News
News & Articles
Glazers Chartered Accountants,
843 Finchley Road, London, NW11 8NA.
T: 020 8458 7427, F: 020 8458 8504
E: quality@glazers.co.uk
843 Finchley Road, London, NW11 8NA.
T: 020 8458 7427, F: 020 8458 8504
E: quality@glazers.co.uk
Home
NewsTax NewsTime Running Out on State Pension Top-Up Offer
Tax News
Time Running Out on State Pension Top-Up Offer
Around 70,000 people, mainly women, have until 5 April to boost their basic state pension and get backdated payments.
People who have reached, or will reach, state pension age between April 2008 and April 2011 and do not receive a full basic state pension, could increase their pension payments in the future, and received backdated payments, if they buy back national insurance contributions by 5 April.
The offer from the Department of Work and Pensions allows this group to buy back up to six years of voluntary contributions as far back as 1975.
It follows the reduction in April 2010 of the number of qualifying years of national insurance contributions needed to receive the full basic state pension from 39 to 30 years for women.
People will still be able to fill gaps in their national insurance records when the offer expires but the voluntary contributions will not be backdated.
LINK: Pension and retirement planning
