DEAR TRICIA
Need some practical financial advice? YOUR MONEY Editor Tricia Phillips and her team can help
QI read your letter last week about National Insurance credits. As I now earn about £100 a week, does this mean I am now not getting the NI credits?
AIf you earn less than £118 per week, you don’t pay NICs, nor do you get credited into the system, I’m afraid. People pay National Insurance on earnings from £166 per week. Those earning between £118 and £166 may be entitled to National Insurance credits. However, you need at least 10 years of full NI
contributions to be entitled to any state pension.
QI am retired and receive my state pension. When my wife reaches her state pension age will she receive her own payment or will it be a married couple’s joint pension?
AAnyone who reaches state pension age after April 2016 receives a state pension based on their own qualifying National Insurance contributions record. Your wife can get a state pension
statement to give her an idea of what she is on track to receive and when via gov.uk/check-state-pension or by calling the Future Pension Centre on 0800 731 0175.
QMy wife doesn’t pay tax and I do. I have investments in shares. How do I transfer some into her name so we don’t pay over the odds in tax on any dividends.
ATo transfer your shares to your wife, you’ll have to perform a stock transfer using the relevant form. You can obtain the form by
visiting the website of the stock you hold or contacting the registrar by phone.
QMy first husband and I bought a home in joint names. He has since passed away, but we divorced many years ago. Our sons have told me via their solicitor that I must sell the home, keep half the profits and give them the other half. Is this true?
AUnfortunately, this is very difficult to say with the limited information you provided. It all depends on what was agreed in the divorce settlement with your first husband, and whether he left a
will or not and its content. I suggest you seek professional legal advice on this matter.
QI have moved home. Do I need to update my details with the Government about my state pension? If so, who do I contact?
AYes, you should contact every company or provider who you have any type of contract or association with. For your state pension you need to contact HM Revenue & Customs. There is information on how to do this at https:// www.gov.uk/tell-hmrc-change-address