A massive area overlooked by many is the ability to buy back missed years (contributions) to the State Pension.

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If you have not paid National Insurance for a period of time, you may find that gaps start to develop in your record. These gaps can arise from low earnings, unemployment, low profitable self-employment leading to no contributions or living abroad.

These gaps can unfortunately lead to a shortage of National Insurance contributions (or “qualifying years”) and therefore missing out on the full State Pension. If eligible, paying voluntary contributions could help to fill these gaps.

It is important to check if there are any gaps, if you’re eligible to pay the voluntary contributions, and if you want to pay them. If you’re close to State Pension age or are self-employed, it could be wise to pay voluntary contributions.

Find out more on: https://www.gov.uk/voluntary-national-insurance-contributions

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