THOUSANDS of Brits have been handed extra time to get a payment boost of £1,000s. The government has announced that more time has been given for people to plug the gaps in their National Insurance …
, Minister for Pensions, said: “I am pleased to see so many people taking steps to review their State Pension, which is why we have extended the deadline for customers to add extra years to their National Insurance record.
“This extension means thousands more people will have time to check their entitlement, and in many cases, increase the amount they receive when they retire.”In some cases, buying back missing years can be really valuable.How much you pay will depend on whether you fill the gaps between 2006/07 to 2015/16 before April 5, 2025 , that's because anyone doing so will be paying the 2022/23 rates.
It works out to be worth £15.85 a week which means it costs £824.20 to buy one year of contributions. As the state pension was £185.15 per week in 2022/23, this boost would add £5.29 per week or around £275 per year.Someone who was retired for 20 years would get back around £55,000 in total .Though before making voluntary contributions, you need to get a
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