Time is Running Out: Don’t Miss Your Chance to Boost Your State Pension

At Vizion Wealth, we believe in making sure our clients have the best possible financial future—so if you’re approaching retirement, there’s an important deadline you need to know about. The government’s extended window for topping up your State Pension is closing on April 5, 2025. This means there’s a limited time left to fill any gaps in your National Insurance (NI) record, potentially adding thousands to your retirement income.

Here’s what you need to know and what steps you should take before it’s too late.

Why This Matters

The full new State Pension is currently £221.20 per week (2024/25 tax year)—just over £11,500 a year. To qualify for the full amount, you need at least 35 years of National Insurance contributions. If you have between 10 and 34 years, you’ll receive a reduced amount.

However, many people have gaps in their NI record—whether due to career breaks, time spent abroad, or periods of unemployment. The good news? You can still make up for lost time.

Until April 5, 2025, you can backdate voluntary NI contributions all the way to 2006/07—a rare opportunity, since normally, you can only go back six years.

How Much Can You Gain?

If you have gaps in your record, topping up your State Pension could be one of the best financial decisions you make.

• Each missing year costs around £907.40 (for the 2024/25 tax year).
• Each additional year adds about £329 to your annual State Pension.
• Over 20 years of retirement, that’s an extra £6,500 in total payments—a huge return on a relatively small investment.

For some, filling just a few years’ worth of gaps could mean thousands more in guaranteed retirement income.

What You Need to Do

Time is running out, so if you think you might have gaps in your NI record, here’s what to do:

1. Check Your National Insurance Record – Visit the HMRC website to see if you have any gaps in your contributions. This is the first step in understanding if you need to top up. 
2. Look Into National Insurance Credits – Some people qualify for free credits (e.g., parents who claimed Child Benefit, carers, or those on certain benefits). Before paying anything, check if you’re eligible. 
3. Decide if Topping Up is Right for You – In most cases, voluntary contributions are well worth it, but if you already have a workplace pension or certain benefits, it may not always be necessary. 
4. Make the Payment Before the April 5, 2025 Deadline – If you decide to top up, arrange your payment well in advance to avoid last-minute issues. 
5. Get Professional Advice – If you’re unsure whether topping up is the right move, speaking to a financial planner (like us at Vizion Wealth) can help you make an informed decision.

Is This the Right Move for Everyone?

While topping up is a great opportunity for many, it’s not always necessary. For example, if you:

• Already qualify for a full State Pension, extra contributions won’t increase your payments.
• Have a workplace pension that affects your entitlement, additional NI payments may not be worthwhile.
• Are in poor health, you may not get full value from increasing your pension.

That’s why it’s always best to assess your individual circumstances before making any payments.

Final Thoughts: Act Now, Don’t Miss Out

The April 2025 deadline won’t be extended again, so this is your last chance to take advantage of this once-in-a-lifetime opportunity. If you’re not sure what to do next, Vizion Wealth is here to help. We can guide you through the process and make sure you’re making the right decision for your future.

Have questions? Get in touch with us today! Your future self will thank you.