How to top up your state pension

published 17 August 2021

Fewer than half of those who have retired since state-pension reforms were introduced in 2016 have qualified for the full pension introduced at the time, government data suggests. While more than one million people have begun claiming their pension over the past five years, fewer than 500,000 are receiving the maximum amount possible, which is £179.60 a week in the current year.

That largely reflects the way the state pension now works. While it is significantly more generous – this year’s weekly pension for those who retired before 2016 is £137.60 a week – it is also harder to qualify for.

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The good news is that if you are off target to qualify for the maximum state pension, you may be able to do something about it. Your first step is to check your current national insurance record, via the government’s online state-pension tool. If it shows you’re likely to come up short, consider making voluntary national insurance contributions; you can usually pay these for the past six years.

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David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.