From 12 October 2015 to 5 April 2017 you’ll be able to make a ‘Class 3A voluntary contribution’ to top up your State Pension by up to £25 per week.
You can choose to top up your State Pension by between £1 and £25 per week. How much you’ll need to contribute depends on:
- how much extra pension you want to get each week
- how old you are when you make the contribution
Example You are 68 years old in October 2015. You decide that you want to get an extra £5 per week (£260 a year) on top of your pension.
The cost of an extra £1 per week for a 68 year old is £827, so you multiply £827 by 5.
You’ll make a lump sum payment of £4,135.
You can use this calculator to see how it works…
https://www.gov.uk/state-pension-topup
Here is a link to the legislation…
http://www.legislation.gov.uk/ukdsi/2014/9780111121689/contents
steve@bicknells.net
