5 September, Thursday, 2024
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HomeSourcesexpress.co.ukBritons can boost state pension with National Insurance contributions

Britons can boost state pension with National Insurance contributions

Britons could see their state pension payments rise by making further National Insurance contributions. Currently, the full new state pension is worth £185.15 per week, however some individuals are missing out on this due to gaps in their record.To get the full new state pension, taxpayers need to have 35 years of National Insurance contributions and 30 years for the old state pension.To get any of the full new state pension, Britons need at least 10 qualifying years of National Insurance contributions.Anyone can get a state pension forecast which will tell them how much they will get paid once they hit retirement age.The full new state pension is £185.15 per week while those on the old state pension get a weekly amount of £141.85 per week.READ MORE: OVO Energy offers £50m support package helping over 15,000 customers – are you eligible? Britons can boost their state pension with National Insurance contributions (Image: GETTY)The reason some people have gaps in their National Insurance record is due to being out of the workforce for a period of time.Usually, those thinking about retirement are able to fill gaps in their National Insurance record up to six years after the year in question under normal rules.After that point, the year becomes a permanent gap in someone’s National Insurance record which could impact their ability to get the full state pension.However a recent Government scheme allows people to fill in gaps in their National Insurance record from further back.DON’T MISSBritons with eye or skin conditions could get up to £150 a week via DWP benefit [INSIGHT]Woman ‘burst into tears’ after being targeted for ‘large amount of money’ in scam [ANALYSIS]Universal Credit and other DWP benefits set to be paid early in December [INSIGHT] State pension age is currently 66 in the UK (Image: EXPRESS)’For people with gaps in their National Insurance record going back more than six years, the window to fill those gaps will soon close.’Some people have gaping holes in their NI record and this will be the last chance to fill them.’Although topping up is not the right answer for everyone, and people should always check with DWP before handing over any money, for some people this could be by far the best rate of return they could get on any spare capital.’Missing out could cost some workers thousands of pounds.’

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