Deadline looms to pay 824 to boost State Pension by 5,500 | Personal Finance | Finance [Video]

Thousands are racing to beat a deadline to boost State Pension income by £5,500 through old age.

A huge section of the UK workforce, mainly women, can dramatically increase the pension they are entitled to by handing over cash to HMRC to cover any years they missed paying National Insurance contributions.

There are various reasons why people might have gaps in their records, including time spent abroad, low earnings periods, self-employment without contributions, or career breaks for childcare and family responsibilities.

This means they may not have amassed the 35 years of NI contributions needed to receive the maximum new state pension or the 30 years required for the lower basic state pension.

Currently, Britons can increase that State Pension payments by filling gaps in NI payments dating back to 2006, however this scheme is due to come to an end on April 5, 2025.

After the deadline passes, people will only be able to fill gaps from the previous six …