HMRC has issued a new press release reminding individuals of a limited-time opportunity to improve their State Pension by addressing gaps in their National Insurance Contributions (NICs) for tax years between April 2006 and April 2018. Originally set to expire on 5 April 2023, this deadline has been extended several times and will now close on 5 April 2025, giving affected individuals just under six months to take advantage of this extension.

Typically, HMRC allows voluntary NIC contributions for the previous six tax years, with the deadline falling on 5 April each year. To check your State Pension forecast and any NIC gaps, use the “Check Your State Pension” service on GOV.UK: https://www.gov.uk/check-state-pension. Since launching the service in April 2024, HMRC reports that over 10,000 payments, totalling £12.5 million, have been made through this digital platform, helping people boost their State Pension.

You may want to consider making voluntary NICs if:

• You are nearing State Pension age and do not have enough qualifying years for the full State Pension.
• You know you will not be able to accumulate the required qualifying years for a full State Pension during the rest of your working life.
• You are self-employed and do not need to pay Class 2 National Insurance contributions due to low profits.
• You live abroad but want to qualify for UK benefits.

If any of these situations apply to you, it’s worth getting a State Pension forecast and assessing whether filling any NIC gaps with voluntary contributions could benefit you. However, not everyone will benefit, as the outcome depends on factors such as your age and NIC history.