State Pension Shock: Contributions May Not Count!

In the UK, many Britons face a state pension crisis as National Insurance contributions might not count towards their pension, costing them thousands in retirement. Women are particularly affected, with a pension gap of up to £89,000 compared to men. This gap widened significantly from 25% in 2016 to 46% in 2022 among women aged 45-54. Unpaid contributions can result from periods of low earnings, part-time work, or unemployment without claiming benefits, leading to gaps in pension records. To address this, people are urged to check their National Insurance records and consider voluntary contributions to secure their future.