Making vol contributions to S pension

[Muddle2000]

I am 5 years short and am 67 It costs quite a bit so is it worth it

Yes it's worth it. Listen to the Martin Lewis podcast on the subject or read this. www.moneysavingexpert.com/savings/voluntary-national-insurance-contributions/

I was advised not to tie up more money in my pension (though I'm 60). If you die, it's not accessible to those inheriting from your estate. If it's public sector, these people on facebook have great advice:

Pen-gage Ltd

I think the OP means the state pension. I imagine the advice you received was specific to your situation. In particular, most DC pensions can be passed on your death (with generous tax rules). Most 60 year olds are likely to benefit from continuing to contribute.

My mother was advised to make voluntary contributions to her state pension (4 years) to ensure she got a full pension. The financial investor said it was one of the best investments she could make. She was 65, in good health and should have good genetics for longevity (based on patents/grandparents).

how much will it cost Vs the increase in pension you will get until you die? I looked at it for my mum and she was 3-4 years short and it definitely paid off quite quickly

It can represent excellent value for money, especially if you have a long life expectancy.

You get your money back in 3 years so yes likely the best investment you can make.

@Muddle2000 it takes just over 3 years to get the money back.

5 years buys you an extra £29.12 a week, which is c£1,500 a year. However, the triple lock sees this rise each April. So this will go up each year.

It is a good investment, particularly as you can draw your pension now.