The Department for Work and Pensions (DWP) is urging individuals to “check if this applies to you” as many could potentially increase their State Pension sums. Currently, men born on or after April 6, 1951, and women born on or after April 6, 1953, are generally eligible for the new State Pension, while those with earlier birthdates will receive the basic State Pension.
To be entitled to any new State Pension, one must have at least 10 qualifying years on their National Insurance record, the DWP states. A qualifying year, as defined by the DWP, is a year in which an individual was employed and paid National Insurance contributions, earned National Insurance credits, or made voluntary National Insurance contributions.
Missing years can lead to not having enough National Insurance years for a full State Pension. The DWP shared a post on X, formerly known as Twitter, on Wednesday, encouraging people to check if they could enhance their State Pension by making additional contributions.
The message said: “Want to know how much #StatePension you’ll get? ” and “You may be able to get more by making Voluntary National Insurance Contributions Check if this applies to you via the free @HMRCgovuk app. #PensionPlanning”. However, the DWP notes on GovU.K. that voluntary contributions do not always result in a higher State Pension amount.
Individuals can use the DWP’s “State Pension Forecast” tool to determine if making contributions would be financially beneficial here, reports Plymouth Live.