State Pension Boost

The State pension boost is only available until April 5th, so if you are between 45 and 70 you should be checking your National Insurance contributions.

A new state pension was introduced in 2016, and to qualify you need to have been paying national insurance for approximately 35 years.

For those people that do have a shortfall, you could be permitted to buy more years if needed, however time is now running out to make the largest amount possible.

Until the 5th April 2023 you are permitted to buy back missed years back to 2006, however, after this date you will only be able to buy back to 2017, therefore you may have another 11 years that you wont be able to back pay.

You may have gaps due to low income, becoming a carer or working outside if the UK, these are just some of the reasons you may not have made your contributions.

Around 3.8 million people may miss out on the full state pension allowance.

Buying back years can cost any thing from £15 to thousands of pounds, this will totally depend on how many years are missing from your contributions.

If you are under the state pension age you can check if you have missing years on the Gov.UK website using your log in and any pension summary, this will tell you if you are on track to receive the full state pension, and also if you have missing years what they are.

In certain circumstances you may be able to earn back the missed years for free, e.g. if you were a carer, and depending on your age, you may depending on your age still have time to make the full contribution through your pay.

Remember, this is your last chance to buy back your pensions contributions back to 2006, get checking!!!