HMRC warns state pensioners to take action before 'cut-off date'

The deadline to boost your sate pension entitlement is less than six months away, it has been warned. HMRC says more than 10,000 payments, amounting to £12.5 million, have been made through the new digital service to boost individuals' State Pensions since its launch in April. W

ith less than six months left to address any National Insurance (NI) record gaps dating back to 2006 to maximise their State Pension upon retirement, people are being encouraged to take action. Pensions Minister Emma Reynolds said: "We want pensioners of today and tomorrow to enjoy the dignity and support they deserve in retirement."

The Labour Party MP went on and also continued: "That's why I urge everyone to check if they could benefit by filling gaps before the deadline passes. Using our online tool means only a few clicks could make a huge difference to your future."

READ MORE Exact date UK hammered by -9C 'snow bomb' which will last 'five days'

Alice Haine, personal finance analyst at Bestinvest by Evelyn Partners, the online investment platform, said: “People typically need at least 10 qualifying years of NI (national insurance) contributions to receive any state pension at all and at least 35 years to receive the full new state pension – though they don’t need to be consecutive years.

“Plugging gaps can be quite an expensive process, so it is important to assess whether you actually need to buy back any missing years. This will depend on how many more years you plan to work, and whether you are eligible for NI tax credits, which fill the gaps, such as those who have been sick, were unemployed or took time out to raise a family or care for elderly relations.

“Plugging gaps in your record is relatively straightforward since the Government rolled out its new NI payments services in April this year – a state pension forecast tool that has been checked by 3.7 million since its launch."