Last chance to maximise your state pension – Act now before the deadline!

With the deadline for voluntary National Insurance (NI) contributions fast approaching, you have just a few months left to fill any gaps in your NI record and potentially increase your state pension. 

HM Revenue & Customs (HMRC) has issued a reminder that the opportunity to make up for missed NI contributions dating back to 6 April 2006 will close on 5 April 2025.  

After this, you can only pay contributions for the previous six tax years. 

If there were times when you were not earning enough or weren’t working, you might have gaps in your NI record.  

These gaps could reduce the state pension you are entitled to.  

However, by making voluntary contributions, you can fill in those gaps and boost your state pension by as much as £107.44 per week. 

The role of National Insurance contributions in boosting your pension 

Your state pension is based on the number of qualifying years of NI contributions or credits (such as those earned when you are unemployed or caring for someone) accumulated during your working life. 

For those eligible under the basic state pension rules (if you reached state pension age before 6 April 2016), you will need 30 qualifying years to get the full pension.  

If you have fewer than 30 years, your pension will be proportionally reduced. 

Under the new state pension system (for those reaching state pension age on or after 6 April 2016), the requirements are stricter.  

You will need at least 10 qualifying years to receive anything at all, and 35 years to get the full amount, which currently stands at £203.85 per week. 

The April 2025 deadline 

The chance to fill in gaps dating back as far as 2006 is a temporary measure.  

After 5 April 2025, you will only be able to cover gaps for the last six tax years.  

This means any gaps between 2006 and 2018 will no longer be eligible for voluntary contributions. 

In the first half of the 2024/25 tax year, more than 10,000 people took advantage of this scheme, contributing £12.5 million through the state pension digital service.  

The average top-up was £1,193, with many people seeing a future increase in their pension. 

Checking your National Insurance record 

You can easily check your NI record for any gaps by using the state pension forecast tool on the Government’s website.  

This tool will show how many qualifying years you have and whether you need to make additional contributions.  

If you choose to make voluntary payments, these can be made online through HMRC’s digital service. 

Even adding just one extra qualifying year can increase your weekly state pension, so it is worth reviewing your situation before the April 2025 deadline. 

Contact us today to discuss how making voluntary NI contributions could boost your retirement income. 

 

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