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Boost your state Pension

Posted on by Steve

About 70,000 people, mainly women, have a two month window in which to boost their sate pension.

Those who reached retirement age, or do so between April 2008 and April this year and who do not qualify for the full state pension, have been given the chance to buy back an additional 6 years of Nics, going back as far as 1975.

This offer ends on April 5. After this, you can still buy back Nics if your state pension age falls between April 6, 2008 and April 5, 2015, but the payments will not be backdated.

You must have at least 20 years of Nics on your record already to qualify. For each year you buy back, the Department for Work and Pensions (DWP) said you could increase your basic state pension by up to 5% a week. You will get the increased state pension for the rest of your life and, if you pay by April 5, could get the increase backdated to when you reached state pension age.

Buying back a full year of voluntary Nics would cost about £625. Suppose a women born in May 1948 and turned 60 in May 2008. She worked part time on and off throughout her life and currently has a reduced basic state pension of £82.03 a week, compared with the full basic state pension of £97.65.

If she paid over £2500 for 4 years additional Nics her basic state pension would increase to the full rate for the rest of her life. That is an extra £15.62 a week at current rates.

The DWP said that if she made this payment by April 5, she would also get back arrears backdated to May 2008, which would amount to more than £2000. She would also get an extra £812 a year state pension for the rest of her life at today’s rates – or a total of £13,804 assuming she lived until 80.

You can get more information at and you can call 0845 604 2931 to buy additional Nics.

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