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01/11/12
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Money advice in increasing demand, says study
31/10/12
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Payment barriers exist for disabled and older people, says study
31/10/12
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Gender differences apparent when financial planning
31/10/12
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Half of Brits shop with a basic credit card, says study
30/10/12
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Number of Brits sitting on forgotten direct debits - 2.68 million
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News
20/01/2009 14:11:28
People urged to be aware of NI changes
Those Britons looking to make back payments on missing National Insurance (NI) contributions in order to top-up their state pension entitlement should act quickly.
In news that could interest those concerned about funding their retirement, Friends Provident reports that the government is set to change the way NI is calculated from April 2010, where consumers will have less qualifying years to make up for missing insurance donations.
However, they should not sit back and wait for this to take place as the firm reveals that from the end of the current tax year, the cost of buying any missing years is set to rise.
"Many people may not be aware of the option to buy back additional years or don't understand the issues involved," Martin Palmer, head of corporate pensions marketing for Friends Provident, points out.
He states there is "plenty of useful information" around for those wanting guidance on pensions, something a qualified financial adviser could also help with.
Indeed, getting advice could be useful as the firm reveals 15 per cent of men do not receive the full basic state pension, with this rising to 70 per cent among women.
Last week, Life Trust reported that 12 per cent of Britons are looking to delay their retirement by at least five years as the financial crisis affects the value of their pensions and other investments.
