National Insurance Voluntary Contributions
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National Insurance Voluntary ContributionsI'm a bit clueless when it comes to tax...
I'm 29 and going to studt medicine for 4 years in September. I've been working full-time since 2004.
Would you recommend I pay National Insurace voluntarily when I'm at uni? It works out about £50 a month, which is obviously money I'd rather have in my pocket! But I don't want to be penalised later on when I get to pensionable age. -
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Re: National Insurance Voluntary ContributionsHave a read of this page: http://www.direct.gov.uk/en/MoneyTax...ngup/DG_190077(Original post by adsyrah)
I'm a bit clueless when it comes to tax...
I'm 29 and going to studt medicine for 4 years in September. I've been working full-time since 2004.
Would you recommend I pay National Insurace voluntarily when I'm at uni? It works out about £50 a month, which is obviously money I'd rather have in my pocket! But I don't want to be penalised later on when I get to pensionable age.
You only need 30 'qualifying' years on contributions for full State Pension entitlement, so the answer is probably that you wouldn't want to make any additional voluntary contributions.
