The yearly lost pension is calculated using the lost pensionable pay figure you entered.
Your current age is the age you return(ed) to work, or if your birthday falls within 30 days of that, your age at your next birthday. Your Normal Pension Age (NPA) is the same as your State Pension age.
The lost pension you buy will be paid to you when you take your pension. If you take your pension before your NPA it will normally be reduced for early payment. If you take it after your NPA it will be increased.
When you die, no extra pension will be paid to your dependents in respect of the lost pension.
The cost to you is shown before tax relief. If you pay tax, you will receive tax relief on the additional contributions you buy. If you pay by making a lump sum payment directly to your local pension fund, you will need to claim any tax relief from HMRC.
Any lost pension you buy will count towards the maximum pension you can build up in a year and over your lifetime. Most people do not exceed these limits, but if you do, you will need to pay a tax charge.
For more information about buying lost pension see the terms and conditions - Opens in a new browser window.