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Timeframe for buying voluntary Class 3 contributions
fly-catchers
Posts: 780 Forumite
I phoned up Future Pensions today and they confirmed as I expected that I could buy one years worth of contributions to cover my 21/22 shortfall. That would mean I would only be 41p a week short of the current pension. I reach my State Pension age in January 2024. Should I buy this contribution now or can you wait till closer to the pension date? Or is it a good idea to get it underway sooner? I will not be doing any work inbetween.
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If you've got the money why not do it now, in case you spend it(!) on something else in the meantime?fly-catchers said:I phoned up Future Pensions today and they confirmed as I expected that I could buy one years worth of contributions to cover my 21/22 shortfall. That would mean I would only be 41p a week short of the current pension. I reach my State Pension age in January 2024. Should I buy this contribution now or can you wait till closer to the pension date? Or is it a good idea to get it underway sooner? I will not be doing any work inbetween.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1 -
21-22 will stay at the same price until April 2024 so plenty of time to buy it.
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