“It’s to be hoped it is hovering near the top of the new pension minister’s in-tray for action in the New Year.”
- Voluntary NI contributions
DWP phone lines “rang red hot all year” as people raced to meet the deadline to buy voluntary NI contributions for gaps going back to 2006, Morrissey explained.
This led to the DWP extending the deadline to April 2025 and to pledge to introduce an online system to reduce call wait times.
No date has been set for its introduction, but it is expected in Spring.
Morrissey said: “The introduction of an online system should also make it much easier for people frustrated with long call wait times to buy the National Insurance credits needed to plug gaps in their record.”
Recent data showed a massive 85 per cent surge in the amount paid for these contributions and this could continue throughout the next year.
However, she added: “Pensions are also known for their drama, and we can expect a bit of that in 2024 as well.
“Debate around the cost of state pension will continue to rage and it will be interesting to see whether support for the triple lock will be a feature of any key party manifestos.
“There’s also a chance that the hard work that's gone into the abolition of the lifetime allowance may also need to be unwound if Labour makes good on its pledge to reintroduce it should it win the next election.”
sonia.rach@ft.com
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