HM Revenue & Customs (HMRC) has issued an urgent warning to anyone aged 60 or above: act now or risk losing up to £5,000 in state pension entitlements.
The tax authority is urging eligible individuals to claim National Insurance (NI) credits before the 5 April 2025 deadline. These credits can fill gaps in your NI record, potentially boosting your state pension by hundreds of pounds annually.
Who Needs to Take Action?
This warning primarily affects:
- Those who reached state pension age before 6 April 2016
- Individuals who didn't make sufficient NI contributions during their working life
- People who may have missed credits while claiming certain benefits
Why It Matters
Each qualifying year of NI credits could add £303 to your annual state pension. Over a typical 20-year retirement, that's £6,060 extra income - money many pensioners can't afford to lose.
HMRC estimates thousands could benefit but warns: "Time is running out to claim what you're owed."
How to Claim
The process is straightforward:
- Check your NI record via the HMRC app or GOV.UK
- Identify any gaps in your contributions
- Apply for NI credits if eligible
Pension experts advise acting quickly as processing times may increase as the deadline approaches.
