Claiming a refund from your national insurance payments

[Missy G]

1st Contact NI Rebates - Tell me more about 1st Contact NI Rebates

Recieved this email today ,wondered what your thoughts were,is it ok ?

 

[Ruth Mills]

If it's a question of "opting out" of the state pension, then HSBC didn't recommend doing it when I took a pension out with them...

 

[Bagpuss]

its not about opting out of the main state pension is it....everyone will still get that

 

[Ruth Mills]

its not about opting out of the main state pension is it....everyone will still get that

Am pretty sure it was possible to opt out of at least of some of the state pension in the past though, as Equitable Life recommended doing it when my first employer had a pension scheme with them (but look what happened to them though)...

But HSBC said it was a bad idea when I set up my company pension scheme with them just over 3 years ago...

 

[angelina221]

Yeah am pretty sure the rebate is paid into your own pension scheme and you have to contract out of the state pension scheme.
You can't do it if you are self employed though!

 

[Bagpuss]

from the site...

As a UK taxpayer, you and your employer have to pay NI contributions. These funds go towards the Basic State Pension and the State Second Pension. The Basic State Pension is Compulsory however you can choose to opt out (Contract Out) of the State Second Pension.

read this page... explains more... 1st Contact NI Rebates - Tell me more about 1st Contact NI Rebates

 

[Missy G]

Ok thanks geeks,gonna nail it over the head ,as there a couple of things that dont apply to me on it anyway, so thanks for your replies.