State pension UK: There’s a deadline for filling NI gaps – how to make contributions | Personal Finance | Finance
State pension payments can be paid out so long as the claimant has between 10 and 35 years of National Insurance contributions under their belt. The full new state pension pays £175.20 per week.
Voluntary contributions can usually only cover the past six years, with the deadline for payments occurring on April 5 each year.
This means that if a person sees that they have gaps in their record for the tax year 2014 to 2015, they’ll have until April 5 2021.
In some instances, people may be able to pay voluntary contributions for periods earlier than this if they were born in certain years.
Men born after April 5 1951 or women born after April 5 1953 will have until April 5 2023 to pay voluntary contributions to make up for gaps between April 2006 and April 2016.
A person can only receive their state pension payments when they reach their state pension age.
This can also be varied by when a person was born but at the moment, most people will reach state pension age between 65 and 66.
By October 2020, everyone will reach state pension age on their 66th birthday, regardless of their year of birth.
Beyond this, the government has plans to increase the state pension age to 68 in the coming years.
An initial payment from a state pension will arrive within five weeks of reaching state pension age, so long as it is actually claimed.
After this, the payments will come through every four weeks.
The specific day that state pensions are paid on will depend on the claimants National Insurance number.
The last two digits of this number will determine than the payment arrives, as detailed below:
- 00 to 19 – Monday
- 20 to 39 – Tuesday
- 40 to 59 – Wednesday
- 60 to 79 – Thursday
- 80 to 99 – Friday