Class 3 voluntary National Insurance contributions are designed to fill in any gaps in your National Insurance record. The aim is to get you a higher State Pension.
To receive the full new State Pension, you’ll need to have at least 35 qualifying years of National Insurance contributions. It’s payable to people who have reached their State Pension age on or after 6 April 2016.
Anyone with less than this will receive a reduced State Pension. To receive the new State Pension you need to have a minimum of ten qualifying years.
If you don’t have enough qualifying years, you might want to pay Class 3 voluntary contributions to boost your pension entitlement.
In 2021-22, Class 3 contributions are payable at a weekly rate of £15.40 (15.85 in 2022/23). This is the maximum you can pay each week. Rates for previous tax years will be different.
You might not always be able to pay Class 3 contributions for a tax year.
That’s why it’s important to find out whether:
- you can make payments towards any gaps
- how much you’ll need to pay
- you will benefit from making any voluntary National Insurance contributions.