Maximise Your State Pension: Act Before the April 2025 Deadline

If you have gaps in your National Insurance (NI) record between 6 April 2006 and 5 April 2018, time is running out to make voluntary contributions that could boost your State Pension. After 5 April 2025, you’ll only be able to make contributions for the past six tax years, meaning any gaps before 2018 will be permanently locked out.

Why Does This Matter?

Your State Pension entitlement depends on your NI record. You need at least 10 qualifying years to receive any State Pension and 35 qualifying years for the full amount. If you have gaps in your record, your future pension payments could be lower than expected.

Filling these gaps with voluntary NI contributions could mean more money in retirement. Even if you’re already receiving a reduced State Pension, you may still be able to top it up by paying for missing years.

What You Need to Do

  1. Check Your NI Record

    • Visit the official government website: Check your NI record

    • This will show any missing years and how they impact your pension entitlement

  2. Decide If Paying Voluntary NI Contributions Is Worth It

    • Each year of missed NI contributions could mean a lower pension

    • The cost of voluntary contributions is usually lower than the long-term benefit you’ll receive in increased pension payments

    • A financial adviser or tax accountant can help assess whether it’s a good investment for you

  3. Make the Payment Before 5 April 2025

    • If you want to fill gaps from 2006-2018, act before the deadline

    • Payments can be made through HMRC – details will be provided once you check your record

Don’t Delay – Act Now!

Leaving this to the last minute could cause delays or even result in missing the opportunity to boost your pension.

If you’re unsure, take action today by checking your record and seeking professional advice via Lerica Tax Accountants and we will help you navigate the process efficiently.

 
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