Voluntary Contributions for the tax year in which I reach State Pension Age?

molerat · 23 June 2023 at 11:07AM

Doctor_Who said:

Great, so no rush to pay for 2021-22 before 31 July 2023! To be honest, an increase of £23.40 is pretty minor and would be mostly covered by the interest earned on £800 up to April 2024. Hopefully by the end of the year they'll have a more automated way to get the reference number etc.

There never was a rush for 21-22 as that would not have increased in price until April 24 where it would have increased to £907.40 + Sep 23 CPI.

Doctor_Who · 23 June 2023 at 11:28AM

molerat said:

Doctor_Who said:

Great, so no rush to pay for 2021-22 before 31 July 2023! To be honest, an increase of £23.40 is pretty minor and would be mostly covered by the interest earned on £800 up to April 2024. Hopefully by the end of the year they'll have a more automated way to get the reference number etc.

There never was a rush for 21-22 as that would not have increased in price until April 24 where it would have increased to £907.40 + Sep 23 CPI.

There was a discussion on page 2 (see here) regarding the wording 'you’ll pay the rates that applied in the 2022 to 2023 tax year', which implied that 2021-22 might be charged at the 2022-23 price. I had assumed (incorrectly) that if this happened it would be from 31 July 2023. My plan has always been to purchase 2021-22 before April 2024 to get it for £800.80.

Suffolk_lass · 23 June 2023 at 12:02PM

We have just purchased 20-21 for husband. £795.60. It is out of the way now and he will be entitled to the full new state pension, and it will have cleared to his record ahead of the calculation, when it is applied for. We agreed we would do it now and take the risk that he may die before it pays out.