The Department for Work and Pensions (DWP) is urging Brits to carry out a simple online check that could boost their state pension. New parliamentary information issued this week reveals that 18 million people have used the government's State Pension forecast tool over the past two and a half years, with 170,000 discovering gaps in their National Insurance (NI) records.
Voluntary payments to plug gaps
Of those who found gaps, 115,321 went on to make voluntary payments to plug the holes and increase their future pension entitlement. The tool is free to use online at gov.uk.
Torsten Bell, Parliamentary Secretary at Treasury, said on Monday: "NI contributions and credits can be built up throughout a person's working life. Their State Pension entitlement will therefore depend on their contribution history, credited years and any future qualifying years they may accrue before reaching State Pension age."
Why gaps occur and what is needed
Gaps in your NI record can occur for various reasons - from low-paid work and periods of unemployment to living abroad or being in education. You need at least 10 qualifying years to get any state pension, and around 35 years for the full amount.
Money expert Martin Lewis recently advised one listener thinking of making NI contributions to first "go and look at your pension projection."
The government tool could help secure your financial future in retirement.
