top of page

FILLING YOUR NI GAPS - MUST DO BEFORE 5 APRIL 2025

John Sadler
Feb 192 min read

STATE PENSION

The state pension is awarded to recipients at the age of  67 or 68, depending on your year of birth, which you can check HERE. You will receive the pension when you have 10 qualifying years on your record. It is really important that you check your qualifying years, because HMRC gives you the opportunity to fill any ‘gaps’ you have in previous years.


HMRC is offering a one-off opportunity to fill your NI gaps, dating back to 2006, but only until 5 April 2025. Read on!


WHY MIGHT YOU HAVE A GAP?

Typically, you would register a qualifying NI year when you earn over a minimum threshold in a year. As it follows, you might have a gap for not meeting that threshold for various reasons:


  • You moved abroad for a year and didn’t receive a UK salary;

  • You were in the UK but you were setting up your own business but didn’t pay yourself a salary;

  • You may have taken some time out from work and therefore not earned a qualifying level of income


WHY SHOULD YOU CHECK YOUR NI RECORD?

HMRC gives you the chance to fill gaps from a prior year, going back up to 6 years. However, until 5 April 2025, they are giving you the TEMPORARY opportunity to fill a gap in any missing year going back to 2006.


The cost of filling an NI year may cost £824.20 per year. However, it could be the difference between receiving the UK state pension, or not.


To check the number of your qualifying NI years, click on the link below, and make sure you have your Government Gateway and password to login.



OUR TIPS FOR YOU

You should immediately follow these steps so that you are prepared to ensure your NI gaps are filled before 5 April 2025:

  1. Check your NI record by visiting Gov.UK and downloading the report;

  2. Identify if there are any gaps;

  3. Understand the cost of filling each year that has a gap;

  4. Compare the cost to the incremental benefit you would obtain by receiving more state pension upon retirement

  5. Make a decision, either individually or with a financial planner, to help you decide whether you should fill an NI gap.


If you'd like any support to assist you through this process, please don't hesitate to contact us.





 
 
 

Comments

bottom of page