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If you want extra 'old' state pension act fast

If you don't qualify for the new state pension you may be able to buy extra income - but this option won't be available for much longer
January 12, 2017

In last week's portfolio clinic the readers featured were looking for ways to boost their retirement income. One of the ways suggested was to buy extra income using the state pension top-up facility; however, this option is only available until 5 April this year, so if you want to do this you should not delay.

If you are a man born before 6 April 1951 or a woman born before 6 April 1953 you can make a class 3A voluntary contribution to increase your state pension by between £1 and £25 a week, if you are entitled to the state pension. This top-up facility is being offered to people who had reached their state pension age before the introduction of the new state pension in April 2016, due to concerns they might not be as well off as those receiving the latter.

People born after 1951 or 1953 could increase their state pension with voluntary National Insurance contributions or by deferring their state pension.

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