Expert tells pensioners 'act now' to land 'thousands of pounds' before deadline
They have issued advice to older people so they can make the most of the oppotunity
An expert has told pensioners that time is of the essence as a deadline to claim a boost is imminent. Experts have issued UK expats with a call to action ahead of April 5, urging state pensioners to notify HMRC of their intention to pay voluntary National Insurance contributions (NICs) going back as far as 2006. After this date, the rules revert to the standard six-year lookback period, which slashes the chance to plug historic gaps in NI records. These could “make a substantial difference to pension outcomes”.
“For many, this is a one-off opportunity to lock in a government-backed, inflation-linked income stream at relatively low cost,” James Green, Director of deVere Europe, said. “Miss it, and it may be gone for good. We’re at the eleventh hour. Expats who want to take control of their retirement income must act before April 5. This isn’t just a formality — it’s an unmissable opportunity to potentially secure thousands of pounds in future pension benefits, and it requires immediate action.”
Mr Green added that individuals should not underestimate the pension’s value.
He said: “For many UK nationals overseas, the state pension has become a forgotten asset. But it shouldn't be.
“It offers long-term, reliable income — and is often inflation-linked — and can make a real difference to financial freedom in retirement.”
READ MORE: Pensioners squeezed by cost rises 'missing extra income', expert warns
READ MORE: State pensioners born before this year get instant £100 winter fuel payment rise
READ MORE: 700,000 more pensioners facing income tax bills as state pension increases
The deVere Group also emphasised that those who qualify to pay the lower-cost Class 2 NI contributions could find this to be one of the most cost-effective retirement planning tools available.
“Paying Class 2 rather than Class 3 can mean paying hundreds instead of thousands of pounds per year — for a potential return that spans decades,” Mr Green explained.
“We’re talking about making a relatively small payment now in exchange for a secure income stream for life. That’s a smart trade.”
