Independent Financial Advice | Telephone: 01536 512724

Deadline fast approaching for boosting your state pension

Workers have until April 2025 to buy back any missing National Insurance years from 2006-2016.

These National Insurance contributions are essential to making sure you get the maximum amount of state pension.

It is not uncommon for workers to choose to buy years they were missing to ensure they meet the full qualifying years for the state pension.

You usually need 35 years of National Insurance contributions to qualify for the full state pension, which is £221.20 a week.

Usually there are strict time limits on buying back these years.

But when the new state pension was introduced back in 2016, it was relaxed to help people with the transition.

This was supposed to end in April 2023 but was then extended until April 2024. However from May 2025, you will only be able to buy back six tax years starting from 2019.

Get intouch

If you’d like to discuss your requirements please feel free to contact our advisors

Categories

Archives