There is now less than six months for clients to top up their National Insurance contributions if they are to do so within the backdating deadline of 5 April 2025.
Last year the deadline to backdate National Insurance contributions since April 2006, in order to boost state pensions was extended to April 2025 following a surge in interest. After the deadline, clients will only be able to fill gaps from 2019 onwards – so there could be 13 years lost.
Mike Ambery, Retirement Savings Director at Standard Life, highlighted that paying voluntary National Insurance contributions could make a difference in retirement, “but it’s not right for everyone,” he said, emphasising that it is “very important” for individuals to consider their own situation, as there could be many reasons why voluntary National Insurance contributions wouldn’t suit their circumstances, for example where someone would have “sufficient time to make up the years without making voluntary contributions”.
But he added checking records and contacting the relevant people before next April could potentially mean people are “thousands of pounds better off in future.”
