Millions may lose full State Pension due to record gaps

Experts are warning that many people under 73 may not receive the full State Pension because of gaps in their National Insurance (NI) records. They say this could lead to millions losing out on valuable retirement income. Spencer Churchill Claims Advice emphasizes that by the time people realize they have missing qualifying years, it might be too late to correct it. They suggest that topping up these gaps could be one of the best financial moves before retirement. A full State Pension can mean thousands of pounds more each year. The firm encourages everyone to check their NI records before the April 5 deadline. They recommend specific steps to identify any gaps. Due to high demand, the Government has created an online call-back method for those who submit requests before the deadline. This means individuals can still pay their voluntary NI contributions later. However, experts advise caution. They warn that not all voluntary contributions will increase a person's pension entitlement. It's crucial to get the right advice beforehand to avoid making unnecessary payments. With the deadline approaching, people are urged to take immediate action to ensure they secure their full State Pension. Checking NI records now could greatly impact retirement income in the future.