Deadline Approaching for Voluntary National Insurance Contributions – Act Now to Secure Your State Pension

Branagans Accountancy Services is urging individuals to review their National Insurance (NI) records ahead of a significant change coming into effect from 6th April 2025. From this date, the window for making voluntary NI contributions will be reduced, meaning individuals will only be able to make payments to cover gaps in the last six tax years (currently 2019/20 to 2024/25). This change could have a major impact on state pension entitlements.

Currently, people can make voluntary contributions to fill gaps in their NI record going back to 2006. However, after 5th April 2025, any shortfalls before the 2019/20 tax year will no longer be eligible for voluntary contributions.

Ensuring Full State Pension Entitlement
To receive the full state pension, individuals typically need 35 years of qualifying NI contributions. Those with an incomplete record may receive a reduced pension. It is crucial for individuals to check their NI records as soon as possible to determine whether additional voluntary contributions are necessary before the April 2025 deadline.

Donna Branagan, Director at Branagans Accountancy Services, comments:
“This is a crucial deadline that could affect people’s financial security in retirement. Many individuals may not even realise they have gaps in their NI record. We strongly advise everyone to check their records now so they can take action, if needed, before it’s too late.”

How to Check Your National Insurance Record
To review NI records and identify any gaps:

1. Log in or register for a Personal Tax Account via the Government Gateway.
2. Review NI contributions to identify missing years.
3. Assess your state pension forecast to determine if voluntary contributions are needed.

David Branagan, Director at Branagans Accountancy Services, adds:
“We know that navigating tax and pension issues can be complex, but this deadline is too important to ignore. We’re here to help individuals understand their options and make informed decisions about their future.”

Get Expert Advice Today
Branagans Accountancy Services is available to support individuals in reviewing their NI records and making voluntary contributions where necessary. For expert guidance, contact Branagans on 01709 327 215 or email info@branagans.co.uk.