Following up my post 9th July I have further information which I am puzzled by.
Client has 39 full years of contributions 9 incomplete years (2 recently and 7 from the late 1980's). 2 more years to go until retirement. They were at some point in a cntracted out pension.
I thought you only needed 35 years of contributions to get the full state pension.
Their forcast is saying the current forecast is £146 per week; if next 2 years are made it will b £156 per week. Without the shortfalls the pension would be £171 per week.
To make good recent shortfalls voluntary contributions of approx 750 are needed for 17/18 & 18/19.
Couple of questions.
How could there be shortfalls if 35 full years have been contributed
Are we, as accountants, allowed to advise re voluntary contributions or is it IFA territory?