State Retirement Pensions

HM Treasury written question – answered on 16th December 2014.

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Photo of Gregory Campbell Gregory Campbell DUP, East Londonderry

To ask Mr Chancellor of the Exchequer, what options will be available for people to purchase additional National Insurance Contributions on a phased basis over a period of years in order to qualify for the new state pension.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

The time limits for paying voluntary contributions for those who reach State Pension age on or after 6 April 2016, the date when the new State Pension is introduced, have been extended. Those with non-qualifying years from 2006-07 to 2015-16 have until 5 April 2023 to pay voluntary contributions. However, if they are paid after 6 April 2019 they will be charged at a higher rate. A person can pay voluntary contributions in a lump sum or can spread the payment over a period of time subject to the time limits and higher rate provisions that may apply.

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