Women's NIC buy-back costs to rise 50%

Small-print in Monday's Pre-Budget Report reveals women will need to act quickly to buy National Insurance Contributions (NIC) at their current price of £8.10 per week. When the Government announced it would allow women to buy up to 12 years of missed NICs, it was hailed for introducing a historic reform to improve pension equality. However, the latest revelation reveals those hoping to improve their retirement provision have less than six months to take advantage of the Government's low-cost entry price. From 1 April 2009, the cost of buying NICs will rise 48.7%, from £8.10 per week ...