The short version: Class 3 National Insurance is a voluntary contribution you can make to fill gaps in your NI record. It’s mainly about protecting your State Pension entitlement.
Who pays Class 3?
Anyone who has gaps in their record and wants to fill them. You might have gaps if you were unemployed, living abroad, earning below the threshold, or simply didn’t work for a while.
How much does it cost?
It’s a fixed weekly rate set by HMRC each year. You can go back and fill gaps from previous years, though the further back you go, the higher the rate might be.
Is it worth it?
That depends on how many qualifying years you have and how close you are to retirement. You need a certain number of qualifying years to get the full State Pension. If you’re short, filling gaps could boost your pension significantly.
Before paying, check your NI record online. You might have more qualifying years than you think.
Got gaps in your NI record and wondering if it’s worth filling them? Get in touch and we’ll help you work it out.
