Number making top ups after new state pension rose 85%

Class 3 NICs

clock • 2 min read

The number of people making Class 3 National Insurance Contributions (NICs) rose 85% following the introduction of the new state pension in 2016, data gathered by Quilter has showed revealed.

Class 3 NICs allow individuals to fill gaps in their National Insurance record by making up one or more qualifying years by paying voluntary contributions, which gives them the right to access the full state pension during retirement. After the introduction of the new state pension on 6 April 2016, the number of people making contributions increased to 115,000 in 2016/17 from 62,000 in 2015/16, according to Quilter. A further 115,000 made top-ups the year after until the number of people started to drop. Over the nine years of data available, the overall average contribution was £6...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Titan Wealth expands into HNW sport advice with PSN tie-up

Titan Wealth expands into HNW sport advice with PSN tie-up

Strategic partnership with invitation-only global sports network

Jenna Brown
clock 06 October 2025 • 2 min read
Regulators unite to tackle poor claims management practices

Regulators unite to tackle poor claims management practices

FCA, SRA, ICO and ASA launch joint action over misleading advertising

Sahar Nazir
clock 06 October 2025 • 1 min read
Large and complex firms' confidence in FCA communication falls

Large and complex firms' confidence in FCA communication falls

FCA communication described as ‘inconsistent' in findings

Sahar Nazir
clock 06 October 2025 • 3 min read