Brits have just weeks left to boost their state pension - act now or miss out

Time is ticking for Brits who want to boost their state pension, with a crucial deadline looming.

Before April 5 2025, there's a chance to backdate National Insurance contributions significantly further than will be possible after that date – currently up to 17 tax years, but soon to be just six.

This could mean a substantial increase in state pension for many, as the latest figures from August 2024 indicate over 1.1 million people are getting less than £200 per week, while the full new state pension is set to rise to £230.25 per week come April.

Helen Morrissey, pension expert at Hargreaves Lansdown, is urging quick action: "The clock is ticking for people to take advantage of the opportunity to plug gaps in their state pension record going back to 2006.

"In less than six weeks, the window will slam shut, and after that, you can only go back six tax years. With more than a million pensioners receiving less than £200 per week, this is a chance that could have a real impact on your retirement income."

For those born after 5 April 1951 (men) or 5 April 1953 (women), there's still time to act and potentially boost what you'll receive in retirement by backdating your National Insurance contributions to 2006. To find out if you're eligible, simply check your National Insurance record online at gov.uk.

If you're yet to reach state pension age, you can also examine your state pension forecast or contact the Future Pension Centre. For those already of state pension age, The Pension Service is your go-to, reports the Express.

Experts are urging folks to get their documents and details sorted pronto, as the run-up to the April deadline is predicted to cause a spike in traffic on government websites and phone lines. A bit of forward planning could be crucial in ensuring you don't miss out on enhancing your retirement pot.

The price tag for plugging a gap is roughly £824 per year of missed contributions, with partial years costing less. Each additional year of National Insurance will bump up your state pension by about 1/35th, which works out to around £328 annually.

As long as you live more than three years beyond your state pension age, you'll have made back the cost of topping up. Before you fork out to fill any gaps, do make sure to verify whether you automatically qualified for National Insurance credits during the years in question.

For instance, those who didn't claim Child Benefit due to the High-Income Child Benefit Charge might be eligible for free credits that could give their state pension a boost. Morrissey also recommends consulting with the Future Pension Centre before parting with any cash to confirm that topping up will indeed be advantageous.

For some individuals, particularly those who opted out of the State Second Pension, purchasing additional credits may not be feasible. As the cut-off date looms, it's crucial to scrutinise your National Insurance record and seize this chance to bolster your state pension.