This website uses cookies. Find out more.

  • Contact
  • Client Login
Chase de Vere
Trustpilot
  • Services
    • Advice for you
    • Advice for your business
    • Partner With Us
    • Advice on Personal Injury Awards
    • Advice for Medical Professionals
    • Advice for Dental Professionals
  • About
  • Careers
  • Insights
  • Contact
0345 609 2002 Book Appointment

Advice for you

Advice for your business

Partner With Us


Advice on Personal Injury Awards

(Off-site link)

READ MORE
Advice for Medical Professionals

(Off-site link)

READ MORE
Advice for Dental Professionals

(Off-site link)

READ MORE
Back to Insights
News

Minding the gap: NICs top-up deadline extended

11 April 2023
  • Share

The rush to meet the voluntary national insurance contributions (NICs) top-up deadline of 5 April has forced HMRC to grant an extension to 31 July.

The last major reform to state pensions took effect on 6 April 2016. From that date the second state pension and basic state pension were replaced by the new state pension for anyone reaching state pension age. The new state pension was higher than its basic predecessor, but it came with two less attractive features:

  • Instead of a minimum of one year’s NICs record to claim any entitlement, the requirement was raised to ten years; and
  • The NIC record needed to obtain the full pension was increased from 30 years to 35 years.

To help people fill gaps in their NIC record and thereby gain more state pension, the government relaxed the normal rule that voluntary NICs to infill missing years could be backdated by no more than six years. Instead, voluntary contributions covering the ten years before the start of the new regime could be made at any time up to 5 April 2023. This loosening of the rules was first announced in April 2013.

A necessary extension

As can happen when deadlines are set a decade into the future, their relevance can be forgotten or ignored until nearly the last moment, at which point there is a mad rush – think of ISA tax-year-end investment but multiplied by ten. On this occasion, the surge was exacerbated by stories in the national press giving extreme (but accurate) examples where a single payment of £824 can make the difference between no pension and one of over £3,000 a year. In more normal instances, the £824 could buy an extra £302 a year of pension – still a highly attractive deal.

Unfortunately, the deadline rush meant a flood of enquiries for HMRC and the Department for Work and Pensions, neither of which are renowned for their swift responses. By early March, the Treasury was forced to announce that “to ensure customers do not miss out, the government intends to extend the 5 April deadline to pay voluntary NICs to 31 July this year.”

If you think this could be relevant to you and you have not yet taken any action, then you need to do so now. Another deadline extension is most unlikely.

The contents of this article are for information purposes only and do not constitute individual advice.

  • Share

Related Insights

21 March 2023

The rising cost of retirement

How much income do you actually…

News
View Article
28 March 2023

Lifestyling throws up temporary problems

A conventional investment wisdom dictates that…

News
View Article
11 April 2023

The Budget surprise: changes to the pension tax…

New measures affecting pension allowances announced…

News
View Article

TO FIND OUT HOW CHASE DE VERE CAN HELP YOU ACHIEVE YOUR GOALS, ARRANGE YOUR COMPLIMENTARY CONSULTATION.

ARRANGE APPOINTMENT

Related Services

Advice for you

We offer our clients attentive, focused, financial guidance from highly qualified independent advisers located throughout the UK. Whether you’re saving for the future, enjoying your retirement or fu...

Learn more
JOIN OUR SUBSCRIPTION SERVICE TO RECEIVE:

EDUCATIONAL NEWS UPDATES & UPCOMING EVENTS

By signing up to our email subscription service we will send you regular emails with the latest insights from Chase de Vere. By signing up you are agreeing to our term and conditions that can be found here.

Chase de Vere
  • 0345 609 2002
  • client.services@chasedevere.co.uk
  • Home
  • About
  • Accessibility
  • Cookies
  • Gender Pay Gap Report
  • How to make a complaint
  • Insights
  • Modern Slavery Statement
  • Privacy
  • Terms of Use
  • Linkedin

Disclaimer:

Investments can go up and down in value, so you could get back less than you put in.
The Financial Conduct Authority does not regulate cash flow planning, tax or estate planning.

© Copyright Chase de Vere / 2025