Want more time for voluntary NI contributions? You’ve got it

Thousands of taxpayers have been given more time to fill gaps in their National Insurance record to help increase the amount they receive in State Pension.

The Government has extended the voluntary NI deadline to 31 July, 2023, after members of the public voiced concern over the previous deadline of 5 April.

The deadline extension was announced last week and HM Revenue and Customs (HMRC) is urging taxpayers to ensure they do not miss out.

Victoria Atkins, The Financial Secretary to the Treasury, said: “We’ve listened to concerned members of the public and have acted. We recognise how important State Pensions are for retired individuals, which is why we are giving people more time to fill any gaps in their National Insurance record to help bolster their entitlement.

“Thousands of taxpayers with incomplete years in their National Insurance record could be financially better off in their retirement if they make voluntary payments to top up any incomplete or missing years.”

Anyone with gaps in their National Insurance record from April 2006 onwards now has more time to decide whether to fill the gaps to boost their new State Pension. Any payments made will be at the lower 2022 to 2023 tax year rates.

As part of transitional arrangements to the new State Pension, taxpayers have been able to make voluntary contributions to any incomplete years in their National Insurance record between April 2006 and April 2016, to help increase the amount they receive when they retire. And after an increase in customer contact, the Government has extended the deadline to ensure people have time to make their contributions.

Eligible taxpayers can find out how to check their National Insurance record, obtain a State Pension forecast, decide if making a voluntary National Insurance contribution is worthwhile for them and their pension, and how to make a payment on GOV.UK.

Taxpayers can check their National Insurance record, via the HMRC app or their Personal Tax Account.

You are entitled to claim the new State Pension if you are a man born after 6 April, 1951, or a woman born after the same date in 1953. The earliest you can receive a State Pension is when you reach the State Pension age which is currently 66, but is rising to 67 between 2026 and 2028, and is expected to then go up to 68.

 

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ARA (Bristol) Ltd, t/a Adams Root & Associates Ltd, 86 Shirehampton Road, Stoke Bishop, Bristol, BS9 2DR - company registered in England & Wales number 11420396

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