Enhancing state pension question please.

EnfieldP17

Hello again.
Can anyone please advise as to the following?

In June/July 2015, there was mention on Radio 4, that people who are missing NI contributions could buy extra units
to help make up the shortfall.

It was said that if £700 was paid for each missing year, this would enhance the pension when taken, by up to £200
per year. This was apparently aimed to be beneficial to women who had breaks in their employment for reasons
such as maternity.

Did this ever happen please and if so what is what is it called?

This is not to be confused with the more recently proposed scheme where a lump sum of £22,000 would enhance
the individuals future pension.

Many thanks for reading, Pauline.

bigfreddiel

This nothing new, you have always been able to buy missing years of NI contributions. I think you can go back as far as six years. So you can go back as far as 2009 right now.

Cheers fj

SnowMan

EnfieldP17 wrote: »

Hello again.
Can anyone please advise as to the following?

In June/July 2015, there was mention on Radio 4, that people who are missing NI contributions could buy extra units
to help make up the shortfall.

It was said that if £700 was paid for each missing year, this would enhance the pension when taken, by up to £200 per year. This was apparently aimed to be beneficial to women who had breaks in their employment for reasons such as maternity.

Did this ever happen please and if so what is what is it called?

This is not to be confused with the more recently proposed scheme where a lump sum of £22,000 would enhance the individuals future pension.

What you are describing sounds like normal class 3 voluntary national insurance (as you seem to have ruled out class 3a contributions in the last para)

https://www.gov.uk/voluntary-national-insurance-contributions/why-pay-voluntary-contributions

If you reach State Pension Age after 6th April 2016 then there may be opportunities to buy missing pre April April 2016 years and subsequently you may be able to buy post April 2016 years. See this thread also

https://forums.moneysavingexpert.com/discussion/comment/63015195#Comment_63015195

The issues are different depending on whether you reach SPA before or after 6th April 2016. Very difficult to answer without knowing the individual situation.

The starting point for looking into this (assuming you reach SPA after 5th April 2016) is to get a state pension statement or better still, access the new online system

https://www.tax.service.gov.uk/checkmystatepension/
https://www.gov.uk/check-state-pension

EnfieldP17

Many thanks to Snow Man for the confirmation and the links provided.
Much appreciated, Pauline.