State pension top up open until April 2017

Individuals who want to top up their state pension income have until 5 April 2017 to make an application. 

People who reached state pension age before 6 April 2016 can use the scheme to boost their pension income by up to £25 a week.

The scheme is available to men born before 6 April 1951 and women born before 6 April 1953.

Individuals can choose to top up their income between £1 and £25 a week. 

The amount contributed depends on the pensioner’s age and how much extra pension they want to receive each week.

For example, a 65-year-old who wants an extra £1 per week will need to pay a lump sum of £890, compared to £674 for someone who is 75.

The main benefits from the scheme:

  • an increase in your retirement income of up to £1,300 per year
  • an index-linked return
  • a surviving spouse or civil partner may be able to inherit he income.

Talk to us today about retirement planning.

Gibson Booth Associates

Salary Solutions

payroll bureau

Financial Planning

Avensure

employment law