State pension payments are set to rise in a few weeks time thanks to the triple lock but analysts are sounding the alarm that three groups of Britons are at risk of missing out on this hike.

The warning comes as time is running out for people to fill gaps in their National Insurance records dating back to 2006, with the deadline set for April 5.


After this cut-off, individuals will only be able to address gaps from the previous six tax years which means any missed contributions between 2006 and 2019 must be rectified within the next three weeks.

Jonathan Watts-Lay, Director at WEALTH at work, has warned that failing to act could significantly impact state pension entitlements.

Pensioner worry and rate rise

Certain groups of older Britons could miss out on state pension triple lock hike

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To receive the full new state pension, individuals need a minimum of 35 qualifying years of National Insurance contributions.

Three groups of people are particularly at risk of missing out on their full state pension entitlement, according to experts.

Those who have taken career breaks longer than six years could face significant gaps in their National Insurance record.

People who have worked abroad may also have incomplete contribution histories that need addressing before the deadline.

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Pensioners are questioning whether the state pension triple lock goes far enough

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Finally, the third vulnerable group of individuals includes those who took time off for childcare or to care for elderly relatives.

“Those who have a gap of more than six years in NI contributions… may want to consider filling these gaps in their record now to ensure they are on track to receive the full state pension entitlement at retirement,” Watts-Lay cautioned.

For employed individuals, purchasing a week’s worth of National Insurance credits costs £17.45, or £907.40 for an entire year.

However, this investment can increase your state pension by £328.64 annually. If you live 20 years beyond state pension age, you could receive an additional £6,500 in state pension for that initial outlay.

Experts advise caution, noting: “It can take a number of years to get back what you pay in, so people should consider how long they expect to receive their state pension.”

On the Gov.uk website, Britons can check their current entitlement and identify gaps. Meanwhile, millions of older pensioners will receive smaller increases to their state pension in April compared to those on the newer scheme.

The full new state pension, paid to those who retired after April 6, 2016, will rise by 4.1 per cent in line with earnings growth.

This will increase from £11,502 to around £11,974 a year. While the basic state pension will also rise by 4.1 per cent from £8,814 to £9,175, this remains £2,799 below the maximum new state pension.

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Older Britons are concerned about a potential retirement savings shortfall

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Experts note this disparity grows each year as both rise by the same percentage, but from different starting points. The situation is further complicated by how the triple lock is applied to different pension elements.

While the basic state pension benefits from the triple lock, certain additional components do not. Elements such as the state earnings-related pension scheme (Serps) and state second pension (S2P) only increase with inflation.

With September’s inflation at just 1.7 per cent compared to earnings growth of 4.1 per cent, these components will effectively shrink in real terms.

Just Group’s Stephen Lowe said it’s “impossible to understand the logic” of this system. Nucleus Financial’s Andrew Tulley warned that “millions of older pensioners will feel worse off, especially if they’ve lost the Winter Fuel Payment too.”