Buying Additional Years of National Insurance Contributions
From 6 April, changes introduced by the Pensions Act 2008 give some people the right to buy up to an additional six years of voluntary Class 3 National Insurance contributions to boost their State Pension. These years are over and above those that can already be bought.
The new measure applies to individuals who:
- reach State Pension age between 6 April 2008 and 5 April 2015
- already have 20 qualifying years (including any full tax years of Home Responsibilities Protection)
Individuals who reach State Pension age between 6 April 2008 and 5 April 2010 must have at least one qualifying year from paid or treated as paid National Insurance contributions and/or earnings.
Full details of the new option to purchase additional years of NICs are available at http://www.hmrc.gov.uk/nic/vol-class3.htm