People have been given nearly two extra years to plug gaps in their National Insurance (NI) record going back to April 2006, which could help boost State Pension payments. The original cut-off for voluntary NI contributions from April 2006 to April 2017 was April 5 2023 but in March this deadline was extended to July 31 2023.
HM Revenue and Customs (HMRC) has said the deadline will be extended until April 5 2025 which means people have more time to properly consider whether paying voluntary contributions, which could boost their state pension entitlement, is right for them, the UK Government said.
However, Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, warns not everyone benefits from paying for voluntary NI contributions and urges anyone thinking about doing it to contact the Department for Work and Pensions (DWP) directly, before parting with any money.
