Financial advice for pensions/savings

[Deleted User]

As for the extra NI contributions, some of the factors to consider are described here: https://www.lovemoney.com/guides/3206/how-to-top-up-your-state-pension

I would also make a simple calculation to see what kind of annual growth I need on 100 pounds invested to beat the return on 100 pounds paid into NI. If you need your investment to grow by more than 4% annually then I’d go for extra NI contributions. That’s assuming the extra state pension he’d be buying won’t be offset by reductions in benefits.

squirrelpie

That's a useful article but it's a bit light on detail. Specifically it doesn't say that it matters which years you buy, and that buying some past years might not affect your pension entitlement at all.


So best to follow the link to the government site and talk to the future pension centre about exactly which years are worth buying before spending any money.