The deadline to top up your voluntary National Insurance contributions in April 2025.
You can buy missing years of National Insurance contributions from 2006 to 2016 in order to boost your pension.
To qualify for the maximum state pension, you must have 35 years of National Insurance contributions.
Pension experts at Spencer Churchill Claims Advice said: “”As the deadline gets closer for this unique chance to backdate National Insurance contributions, it’s important for Brits, especially those aged between 60 and 70, to grasp how it affects their State Pension. The chance to correct up to 17 years of missed contributions can greatly improve one’s retirement finances.”
“With the full New State Pension now at £11,502 a year, not fixing gaps in your National Insurance record could lead to a significant financial loss throughout retirement.
“Many are unaware of the direct link between NI contributions and State Pension entitlement. Ignoring it could prove expensive. Every Brit close to retirement should consider reviewing their NI record and using the government’s extension to backdate contributions to April 2006.”
“The rise in the New State Pension to £221.20 per week marks a meaningful increase, highlighting the importance for individuals to make sure they have the needed 35 years of NI contributions. This is a call for all Brits to check their State Pension forecast and act before the April 5, 2025, deadline.”
“Retirement planning is about looking ahead and being ready. This concession by the government is a helpful option for those who may have missed NI contributions for various reasons over the years. We encourage everyone to not only verify their eligibility but also view this as a key part of their overall financial planning strategy for retirement.”
Martin Lewis has previously spoken about the importance of maximising your National Insurance contributions.
On his BBC Sounds podcast, the money saving expert said: “We need to spread the word on this. On April 6 2016 that was the day they introduced the new state pension.
“For those who hit pension age since then, you have been put on the new state pension.
“As part of that, transitional arrangements were put in place. Those transitional arrangements are set to end.
“This is all about your National Insurance years. The amount that you get in your state pension is about the number of qualifying years that you have.
“You can acquire years by working. Minimum wage, and you will get National Insurance credits, or if you’re not working there are other ways you can get NI credits for example if you are raising children or have a disability.
“Now to get the full state pension when you retire, on the new state pension, you will need 35 years ish.
“Some of you when you get to retirement will be missing years – it might be you were on a low income or working abroad.
“Anybody listening right now, do this. If you are not yet at state retirement age, go to gov.uk and look up your state pension summary.
“That will tell you when you will get your pension and it will give you a forecast of how much you are likely to get.”
