Following on from our article in July’s newsletter ‘A window of opportunity for your State Pension’, the deadline to cover gaps in your NI record from 6 April 2006 to 5 April 2018 is fast approaching (5 April this year). After 6 April 2025, voluntary contributions can only be made for the previous six tax years, following standard time limits. It is important to note that if you have gaps in your NI record, you may not receive the full new State Pension later in life.
To ‘Check your State Pension’ forecast, click the link here, or go to GOV.UK or the HMRC app. This service allows most people under the State Pension age to view gaps in their NI record and pay voluntary contributions if it benefits them. This service is not available to those already receiving their State Pension, self-employed, or those living outside the UK with gaps incurred while working abroad.
The full new State Pension is worth £221.20 a week, or £11,502 a year, but this will rise to £230.30 a week, or £11,975 a year, from this April. You will claim the older basic State Pension if you’re a man born before April 6, 1951, or a woman born before April 6, 1953. The full basic Sate Pension is worth £169.50 a week, or £8,814 a year, but this will rise to £176.45 a week, or £9,175 a year, from this April.
