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Pensions Act 2014

Option to boost old retirement pensions

6.In the Autumn Statement of 5 December 2013 the Chancellor of the Exchequer announced proposals to bring forward measures for a new class of voluntary National Insurance contribution (Class 3A) which would allow pensioners to increase their additional pension. Provisions relating to the payment of Class 3A contributions and ensuing entitlement to units of additional pension are contained in Part 2 of the Act.

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