Background:
Currently 61. Retired early from public sector with actuarially reduced pension and 25 years of D contributions. Since then have worked in private sector on and off and paid about 8 years of class A stamps. Since then I have been living on public sector pension. This year I have started seasonal work some of which is subject to prsi and some of which is self employed.
I would be interested in maximising any potential contributory state pension I may be entitled. I just recently asked about making voluntary contributions. They would be expensive c.3k per annum and I could backdate them to 2014 (when I stopped paying A class).....so that would give me @ age 66 c.18 years of full contributions (paid As & possibly 10 years of voluntary contributions).
The regulations about what contributory pension I might be entitled to are a bit complex so I am struggling to understand if it is worth my while to make the voluntary contributions (costing about 30K over the period) as I am not sure as to whether or what proportion of a contributory state pension I might be entitled.
I also am not sure about the impact of this new seasonal work I am doing - it would have about 10 weeks of prsi but also overlapping other income (which I think I could deal with under paye as it is less than 5k profit or as self employed).
Any views would be gratefully received.
Currently 61. Retired early from public sector with actuarially reduced pension and 25 years of D contributions. Since then have worked in private sector on and off and paid about 8 years of class A stamps. Since then I have been living on public sector pension. This year I have started seasonal work some of which is subject to prsi and some of which is self employed.
I would be interested in maximising any potential contributory state pension I may be entitled. I just recently asked about making voluntary contributions. They would be expensive c.3k per annum and I could backdate them to 2014 (when I stopped paying A class).....so that would give me @ age 66 c.18 years of full contributions (paid As & possibly 10 years of voluntary contributions).
The regulations about what contributory pension I might be entitled to are a bit complex so I am struggling to understand if it is worth my while to make the voluntary contributions (costing about 30K over the period) as I am not sure as to whether or what proportion of a contributory state pension I might be entitled.
I also am not sure about the impact of this new seasonal work I am doing - it would have about 10 weeks of prsi but also overlapping other income (which I think I could deal with under paye as it is less than 5k profit or as self employed).
Any views would be gratefully received.