I will not get the full state pension – what can I do about it? ...0

Question: I have reviewed my state pension summary through the government website and am due to start receiving my pension towards the end of 2034. Based on my working history and national insurance (NI) record, the highest amount I’m forecast to receive is £197.02 per week.

square INVESTING

Investors warned not to panic-sell as Trump tariffs lead to sharp losses

What would be the best value for money in this case – to top up or not to top up? And how much will it be worth now to buy up the gap of £33.90 per week? I do not want to waste my money paying voluntary NI contributions that will not actually increase my state pension!

Those reaching the state pension age after April 2016 should be entitled to receive the single state pension, which is worth a maximum of £230.25 per week in 2025/26. The benefit increases each year by the highest of average earnings growth, inflation, or 2.5 per cent—the so-called triple lock.

For now, the state pension age is 66, but it will rise to 67 by April 2028 and then to 68 in the mid-2040s.

The deadline for plugging gaps is 5 April each year, so you have until 5 April 2031 to make up for gaps for the tax year 2024/25.

Paying voluntary NI contributions can be a good way of boosting your later life income, although you need to make sure it is worthwhile doing so. The first thing to consider is whether you are likely to naturally build up a 35-year NI record through work. It is also important to check that you cannot boost your state pension entitlement for free before paying voluntary NI.

Before paying voluntary NI, you must ensure doing so will not impact your other benefit entitlements. For example, increasing your state pension could mean you are no longer eligible for pension credit or the winter fuel payment.

The next step is to review your NI record to see if there are any gaps from the last six years that could be filled. The easiest way to do this is online via this link.

You should also contact the Future Pension Centre, who should be able to tell you if paying voluntary NI would increase your state pension.

In return, you could receive £330 per year of state pension income, protected by the triple lock. Provided the top-up boosts your state pension entitlement, this will likely be a sound investment, as it will only take a few years to get back more income than you paid in voluntary NI.

Read More Details
Finally We wish PressBee provided you with enough information of ( I will not get the full state pension – what can I do about it? )

Also on site :

• Several police cars involved in major A1 crash with Newcastle road closed
• 40-yr-old woman elopes with would-be son-in-law days before wedding
• Delta can’t stick by previous outlook for 2025 and says growth has stalled in trade war