In this week’s team update, we address recent media commentary on the upcoming deadline for filling gaps in your National Insurance (NI) record to boost your State Pension entitlement.

You’ll also find an update on a recent fund name change for your information.

The State Pension and potential gaps in your National Insurance record

Martin Lewis, along with other financial experts, has been urging people under 73 to check their NI records to see if they can boost their State Pension entitlement before the upcoming deadline on April 5, 2025.

Below is a summary of the key information and actions you need to take.

  • State Pension entitlement is not automatic – The amount you will receive depends on the NI contributions (NICs) you’ve made throughout your working life. If you have “gap years” (periods where you weren’t paying NICs), your entitlement will be less than the full amount. You might have such gaps if there were times when you were not working, had a low income, lived outside the UK, or were self-employed and not making enough profit to pay NICs.
  • Voluntary contributions can fill gaps – The government allows most people to make voluntary contributions to fill NI gaps, but only for the last six tax years. If you are a married woman or widow paying reduced-rate NICs, you cannot pay voluntary contributions.
  • Extension available – The six-year limit has been temporarily extended, allowing you to fill gaps dating back to April 2006. This extension ends on 6 April 2025, after which the standard rule will apply.
  • Many people don’t realise they have gaps – If you don’t check your State Pension entitlement and plug any gaps in your NI record, it may be too late to do so when you retire.

Why boosting your State Pension entitlement matters

Making voluntary NICs before the April deadline could benefit you in several ways.

  • The State Pension provides a lifetime, guaranteed income that’s fully inflation-proofed (currently under the triple lock guarantee).
  • Filling any gaps in your NI record could significantly increase your State Pension entitlement. This may be a relatively low-cost option compared to saving independently for your retirement.

Who should consider taking action before the April deadline

The potential benefits of plugging any gaps in your NI record will depend on your individual circumstances as follows:

  • You are near State Pension Age – If you aren’t entitled to the full new State Pension, and you can’t fill gaps by other means, topping up may be a good option.
  • You are age 40 or above – If you’re over 40 but not yet at State Pension Age, the situation is less clear-cut, as you may naturally fill any gaps in your NI record throughout the rest of your working life. The younger you are, the more time you have to earn qualifying years before reaching State Pension Age.
  • You are under 40 – It may not be worth paying for full NI years but it’s worth checking if you can upgrade partial years for a similar cost. If you have gaps you know you won’t fill (for example, if you live overseas), or if you’re concerned about meeting your pension goals, upgrading partial years for as little as £15 could offer invaluable peace of mind.

4 important steps to take now

If you haven’t checked your State Pension entitlement recently and you think you may have gaps in your NI record, here are four actions to take before 5 April.

  1. Check your National Insurance record – You can review your record on the UK government website by completing the simple online form. Alternatively, you can request a printed NI statement online, by post, or by phone.
  2. Check your State Pension forecast – If you have missing years for NI since April 2006, you can use the government’s online service to find out how much State Pension you could get, when you can get it, and how to increase it (if you can).
  3. Check if you can fill any NI gaps with NI credits – Visit the government’s National Insurance creditspage to find out if you’re eligible for credits that could boost your State Pension entitlement.
  4. Contact The Future Pensions Centre before the April 5 deadline – The centre is part of the Department for Work and Pensions (DWP) and it can provide support and guidance if you have any questions about your State Pension. You can make contact by:
  • Telephone: 0800 731 0175
  • Requesting a callback – The DWP has acknowledged that the phone lines may be busy as the deadline approaches. If you’re unable to get through by phone, you can submit the callback request form online, and they will contact you.

For more details, you can visit the government website.

Please ensure that you take action before the 5 April 2025 deadline to secure the potential benefits of increasing your State Pension.

If you have any questions or need assistance, reach out. We’re here to help!

An update on changes to an investment fund name

The following fund name change will have an impact on clients in the latest versions of our risk-rated portfolios (models three to seven).

On 31 March 2025, the “Close Brothers Sustainable Select Fixed Income Fund” will be renamed the “Close Brothers Select Fixed Income Fund”.

This amendment is due to Sustainability Disclosure Requirements (SDR) changes and updated fund labelling. There are no changes to the fund itself, and no action is required from clients.

Get in touch

If you have any questions about your State Pension entitlement or the investment fund name change mentioned, please get in touch to find out how we can help.

Email hello@intelligentpensions.com or call 0800 077 8807.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

All information is correct at the time of writing and is subject to change in the future.

Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.