National Insurance Contributions
(asked on 2nd October 2023) - View Source
Question to the Department for Work and Pensions:
To ask His Majesty's Government what estimates they have made, if any, of the cost savings that would result from increasing the minimum years of National Insurance contributions required for a full State Pension from 35 to 45.
Answered by
Viscount Younger of Leckie
Parliamentary Under-Secretary (Department for Work and Pensions)
This question was answered on 16th October 2023
No such assessment has been made. The number of Qualifying Years required for a full State Pension strikes a balance between achieving wide coverage, maintaining the contributory principle and ensuring the overall affordability of the State Pension.