Britons have added £35 million to their State Pension pots since April 2024, but time is running out to take advantage of a special opportunity to boost retirement income.
There are just two months remaining for people to fill gaps in their National Insurance records dating back to 2006, with the deadline set for April 5, 2025.
After this date, people will only be able to make voluntary National Insurance contributions for the previous six tax years, potentially missing out on “tens of thousands of pounds in retirement income”.
Since April last year, more than 37,000 people have made online payments to top up their National Insurance records through the digital service.
HMRC’s analysis of the digital service has shown:
- More than 37,000 online payments have been made through the service
- 65 per cent of the years topped up by customers are from 2017 onwards
- The average online top-up payment is £1,835
- The largest weekly State Pension increase is £113.76
More than 4.3 million people have accessed the service to check their State Pension forecast
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Rosie Hooper, chartered financial planner at Quilter Cheviot said: “Many people who might otherwise miss out on thousands of pounds in State Pension entitlement have only a short window left to take action.
“The fact that some top-ups have resulted in a weekly pension increase of as much as £113.76, equating to an annual increase of £5,915.92, underlines just how beneficial this can be.”
The service allows users to check their State Pension forecast, view gaps in their National Insurance record, and calculate the impact of any payments.
More than 4.3 million people have accessed the service to check their State Pension forecast since its enhancement in April 2024.
HMRC emphasises that users should be vigilant against scams and never share their login details with anyone.
Angela MacDonald, HMRC’s Second Permanent Secretary and Deputy Chief Executive, urged people to act swiftly.
She said: “There are just two months left to check and fill any gaps in your National Insurance record from 2006 onwards to boost your State Pension entitlement.
“Don’t delay – it is quick and easy to check your National Insurance record on GOV.UK and it could help your finances in retirement.”
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The service provides an end-to-end solution for customers to review their records and make necessary payments to enhance their future pension income.
Hooper said: “The scale of uptake highlights the importance of this scheme, particularly given that from April 2025, individuals will only be able to backdate contributions by the usual six years.
“For those with gaps in their record—especially people in their late 40s, 50s, and 60s—checking eligibility should be a priority.
“In some cases, a few thousand pounds paid now could translate into tens of thousands in additional pension income over retirement.”
People interested in boosting their State Pension can check their eligibility through the Check your State Pension forecast service on GOV.UK or via the HMRC app.
Before making any payments, Hooper advises contacting the Future Pension Centre on 0800 7310175 for personalised guidance.
“Not everyone will benefit from paying voluntary contributions, so it’s vital to contact the Future Pension Centre,” she explained.
The service can confirm whether additional contributions will increase your State Pension entitlement, potentially making it “one of the most beneficial calls you make in planning for your retirement.”