National Insurance Deficiency Notices

Much has been written in the Press about the 1998 decision of the Inland Revenue not to remind individuals about shortfalls in National Insurance contributions.

For an employed person, his national insurance record must show contributions as having been paid, or treated as paid, on earnings of 52 times the lower earnings limit. This is £77 per week, or £4,004 for the year to 5 April 2004.

A self-employed person must have paid 52 weekly contributions of £2.

If there is a shortfall, voluntary contributions can be paid to make up the shortfall.

To obtain a full State pension, it is necessary to have a contributions record for a minimum number of years. The minimum number of years is dependent upon retirement age and other factors.

If you have received a deficiency notice from the Inland Revenue, please contact us as it may be that a reasonable amount of additional State pension could be received for the rest of your life, in exchange for quite a modest outlay.

You can get a pension forecast from the Inland Revenue office at Benton Park View, Newcastle Upon Tyne NE98 1ZZ and you will need to quote your national insurance number.