5 August 2015

Top Up your State Pension

If you were born before April 1951 (men) or April 1953 (women) and are entitled to the basic State Pension you have the option to increase what you receive by contributing a lump sum. The increase could be between £1 and £25 per week (which is potentially a big proportionate increase).

The "return on your investment" is at a reasonable rate - 5.8% has been cited - so may be well worth considering. And since the State Pension is index-linked and guaranteed for life, and may be inheritable by a spouse, the security level is high.

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