State Pension top-ups post 2018

gterr

Hi there,


I am a woman who will reach SP age in October 2021. I have many years contracted out and my state pension foundation amount was based on the 'old' system, valued at approx. £114 in 2016.


I presently pay (voluntary) Class 2s as I am self-employed, and will do so until these are phased out at the end of the 2017-2018 tax year, which should get me a couple more years of entitlement. After that there will still be 3.5 years to go before I reach SP age, and I will not be earning enough from either employment or self-employment to pay Class 1 or Class 4 NICs.


What options do I have for increasing my SP amount when I get there in 2021?
Can I pay voluntary Class 3s between April 2018 and October 2021? And will I be able to buy any further entitlement beyond that?


Most of the info online concerns those reaching SP age around 2016, hence my questions here.


Thanks for your time.

neilvw

There will be two years you can top up after you finish paying Class 2s: 2018-19 and 2019-20. You cannot top up the year in which you reach SPa, 2021-22.

You can pay Class 3s for those two years, but can wait until Oct 2021 (or shortly beforehand) to do so, if you wish.

More info here: https://www.royallondon.com/Global/documents/GoodWithYourMoney/TOPPING-UP-YOUR-STATE-PENSION-GUIDE.pdf

gterr

neilvw wrote: »

There will be two years you can top up after you finish paying Class 2s: 2018-19 and 2019-20. You cannot top up the year in which you reach SPa, 2021-22.

You can pay Class 3s for those two years, but can wait until Oct 2021 (or shortly beforehand) to do so, if you wish.

More info here: https://www.royallondon.com/Global/documents/GoodWithYourMoney/TOPPING-UP-YOUR-STATE-PENSION-GUIDE.pdf

Thank you! Excellent link with very useful flow charts to suit one and all!

neilvw

Thanks. I made a small error though - you will of course be able to top up 2020-21 as well, a third year.