To top up or not to top up

Beebster

I left paid employment aged 60.
As my forecast is calculated for 5 years when I reach state pension age at 67, I don’t believe it’s worth topping up previous gaps as I will have 7 years missing anyway.  Thoughts please.

molerat

What precisely does your forecast show ? 

Current £££.pp amount accrued up to April 2022
Number of pre 2016 NI years full
Number of post 2016 NI years full
Tax year you reach state retirement
Any COPE amount shown, in a click link in "You've been in a contracted-out pension scheme" if there is one.
Years which show not full and prices

Topping up is generally always worth it with the outlay paying back gross in around 3 years of starting to receive the pension, usually only not worth it where topping up would take you out of benefits eligibility.  An annuity gives around a 4% return, state pension top ups around 30%.