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Treasury

Answer

Mr. Tynan: To ask the Chancellor of the Exchequer what assessment he has made of the opportunities for those remaining in education until the age of 18 years and then pursuing a four year higher education course to accrue a national insurance record sufficient to receive the full basic state pension at retirement. [198698] John Healey: All young people receive Class 3 credits for the tax year in which they reach age 16 and the two following years. Subject to certain conditions, those over 18 may pay voluntary contributions to the extent these are required to qualify for a full basic state retirement pension. These may be paid up to six years after a period of education or training ends, provided the year for which they are to be paid included a period of at least six months full-time education or training. It is not always necessary to pay these since it is possible to achieve full basic state pension with up to five non-qualifying years in the working life.

Secondary information

Type

Written question

Reference

198698; 426 c1718W;426 c1722-3W

Session

2003-04

Subjects

National insurance contributions Students

Link

View this Written question on www.publications.parliament.uk