Chancellor Jeremy Hunt’s National Insurance (NI) cuts, which come into effect on Saturday, could hit the future funding of the state pension and current triple lock.
Pension savers have won more time to make voluntary National Insurance contributions to fill gaps in their National Insurance records and boost their State Pensions.
A Government scheme allowing people to fill gaps in their National Insurance records will come to an end on 5 April.
The Government Actuary is suggesting a 5% rise in National Insurance by 2032 to prevent a deficit in the National Insurance Fund used to pay out state pensions, a possibility based on the latest Government Actuary Department projections.
The Government has revealed details of the new state pension top-up scheme, which will allow retiring savers to pay a lump sum to boost their state pension entitlement.
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