On 12 June 23, the government announced a further extension for those wishing to make retrospective payments to their National Insurance record.
The new deadline for those wishing to fill gaps in their National Insurance Contributions (NIC), for the period from April 2006 to April 2016, is being put back to 5 April 2025. The previous deadline was 31 July 2023.
This extension also applies to NIC for all years that reach their six-year payment deadline before 5 April 2025 (ie, including tax years 2016/17 and 2017/18.
So if you are a man born after 5 April 1951, or a woman born after 5 April 1953, you still have the the chance to boost your state pension entitlement. You cannot pay these voluntary contributions if you are a married woman or widow, and are paying reduced rates, or are eligible for National Insurance credits.
After 5 April 2025, the transitional rules will no longer be available and you will only be able to make voluntary contributions going back for the last six tax years.
If you require specific advice tailored to your own circumstances please contact our Leicester or Loughborough offices and we will be more than happy to help.