Britons given three month extension to boost state pension by more than £10,000
Brits have more time to boost state pension payments
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Britons have been given more time to plug gaps in their National Insurance record in a bid to boost their state pension payments.
Initially, people had until April 5 to make voluntary adjustments for gaps between 2006 and 2016.
But the deadline has been extended to the end of July to ensure people can maximise their state pension entitlement.
On average, people need 35 years of qualifying contributions to get the full state pension.
The initial deadline blocked phone lines at HM Revenue and Customs
PA
Those who have spaces in their records, for example if they have lived abroad or took time off to care for a loved one, can top up their contributions. Topping up payments can increase an individual's state pension pot by more than £10,000.
The move is part of a transition to a flat-rate state pension which was introduced in 2016.
However, blocked phone lines to HM Revenue and Customs left some worried about missing the April deadline.
"HMRC [HM Revenue and Customs] and DWP [the Department for Work and Pensions] have experienced a recent surge in customer contact," said financial secretary to the Treasury, Victoria Atkins.
"We've listened to concerned members of the public and have acted.
“We recognise how important state pensions are for retired individuals.
“Which is why we are giving people more time to fill any gaps in their national insurance record to help bolster their entitlement."
Experts says that extra contributions may not be suitable for every individual so it is best to check whether it is worthwhile for finances.
Brits will have until July to plug gaps in their national insurance records
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Brits can check their personal tax account to view their National Insurance record and obtain a state pension forecast without charge to decide whether making a voluntary contribution is the right decision.
Sir Steve Webb, a former Liberal Democrat pensions minister who is now a partner at consultants LCP, said: "For most people, paying voluntary National Insurance contributions to deal with a shortfall in their state pension makes excellent financial sense.
"But it is also important to make sure that extra contributions are right in your individual case as sometimes additional contributions may not boost your pension."
Helen Morrissey, head of retirement analysis at investment platform Hargreaves Lansdown, said: "It is vital that you check before handing over any money as you may be able to plug these gaps in a different way - by backdating a benefit claim for instance."