{"id":645062,"date":"2026-10-05T03:08:19","date_gmt":"2026-10-05T03:08:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/645062\/"},"modified":"2026-10-05T03:08:19","modified_gmt":"2026-10-05T03:08:19","slug":"how-to-rescue-your-retirement-from-the-death-of-the-triple-lock","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/645062\/","title":{"rendered":"How to rescue your retirement from the death of the triple lock"},"content":{"rendered":"<p>    Go back to work<\/p>\n<p>To receive a full state pension, you\u2019ll usually need 35 years of National Insurance contributions. However, even if you hit that target, you could still end up with less.<\/p>\n<p>Before 2016, some people were \u201ccontracted out\u201d of the additional state pension. This allowed them and their employer to pay less National Insurance but their eventual state pension would be reduced. To compensate, the employer had to pay them more <a class=\"ck-custom-link\" href=\"https:\/\/www.telegraph.co.uk\/money\/pensions\/private-pensions\/how-to-bulletproof-your-pension-against-burnhams-budget\/\" rel=\"nofollow noopener\" target=\"_blank\">private pension<\/a> in retirement, so it at least matched the amount the worker missed out on.<\/p>\n<p>When their state pension amount is calculated, a \u201ccontracting out deduction\u201d is applied, leaving many people with less than the full amount. However, any years worked after 2016 until reaching the state pension age \u201cburn off\u201d, or replace, those affected years and boost their payout by \u00a36.89 a week.<\/p>\n<p>Consequently, if someone reached state pension age this year but they\u2019d been extensively contracted out before 2016, they\u2019d receive a maximum of \u00a3184.90 a week. However, if they had worked for around nine years after 2016, it would be boosted to the full amount of \u00a3241.30.<\/p>\n<p>For some people with fewer than nine years of contributions after 2016, returning to work could be worthwhile.<\/p>\n<p>Make voluntary contributions<\/p>\n<p>You could also achieve the same thing by making voluntary top-ups. For \u00a3956.80, you can buy a year of National Insurance contributions to provide a boost to your state pension.<\/p>\n<p>Sir Steve Webb, partner at pension consultants LCP and a former pensions minister, says: \u201cMost people with nine years or more of post-2016 contributions will have reached a full new pension if they already had 30 years in the system before the rules changed in 2016.<\/p>\n<p>\u201cBut if their state pension forecast is short of the full rate, an extra year or two of work or of voluntary National Insurance contributions could be enough to make the difference between a full pension and a slightly reduced one.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Go back to work To receive a full state pension, you\u2019ll usually need 35 years of National Insurance&hellip;\n","protected":false},"author":2,"featured_media":645063,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[85530,72,176,37338,61,60,1087,1558,174,175,1611,1284,1171,20340],"class_list":["post-645062","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-andy-burnham","tag-business","tag-finance","tag-financial-planning-for-retirement","tag-ie","tag-ireland","tag-money","tag-pensions","tag-personal-finance","tag-personalfinance","tag-retirement","tag-standard","tag-state-pension","tag-top-story"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/645062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=645062"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/645062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/645063"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=645062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=645062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=645062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}