Yes, after months of campaigning, negotiations, contract wrangling and carrier pigeon-powered correspondence it can be confirmed that the nation’s money mavericks are singing from the same hymn sheet.
There were no pigeons and I offer zero financial advice.
However, Martin and I do both agree on this and it’s a belter of a tune.
Remember the Great Pensions Panic of Spring 2023?
Folk scrambling madly to check what they’ve paid into their State Pensions then flocking to the HMRC National Insurance portal thingy to top them up before they pulled up the drawbridge?
OK, you are forgiven but in a nutshell, our Martin (and Louise) were urging folk to go back and check your Ni contributions back to 2006. The reason being that if there are “gaps” you can go and fill them by topping them up.
Yes, it will cost you money but the end result would be a HUGE uplift in your State Pension when the time comes. We’re talking thousands of pounds for hundreds “invested” here.
Well….predictably, the HMRC website pretty much fell over so the deadline has now been extended to April 2025!
So you’ve got plenty of time to try and get through to the Future Pensions unit and sort out what you need to pay if you want to do any catch up years.
However, what you must remember is whilst they will tell you how much it will cost, you then need to decide whether you want to pay it or not.
I can’t really advise on that as I’m not a financial advisor.
If you do decide to pay, you must get an 18 digit reference number from the NI team or the Future Pensions team in order to make the payment. Whatever you do, do not come off the phone if you decide to pay until you have that number. Otherwise, you’ll sit in the queue again!