Additional NI contributions possible?

secondincometrader

Hi, I just got a State Pension quote from the Gov.uk website and it said I need another 4 years to achieve the maximum state pension. I plan to retire in a years time, can I pay extra NI to ensure I achieve the maximum state pension? Many thanks

marlot

Sure, you just pay voluntary contribution. They're good value. https://www.gov.uk/pay-voluntary-class-3-national-insurance


Be very careful paying pre-2016 years as they may not increase your pension. As your forecast says you need another four years that probably means post 2016 years - ie. you can't pay them yet.

Linton

Voluntary NI is an extraordinarily good deal, it pays back in 3-4 years. You cannot pay for the year in which you reach State Pension Age or later. Paying pre 2016 years may or may not be of any benefit. To get a definitive answer to what years you can and need to pay for talk to the Future pensions Centre https://www.gov.uk/future-pension-centre.