Martin Lewis has issued "substantial life-changing advice" to everyone aged over 45 and explained how you can add tens of thousands of pounds to your pension pot.
The consumer guru was hosting his Martin Lewis Money Show on ITV on Tuesday night and talked about pensions. He said the show was a "must watch for 45 to 70-year-olds" as he offered his tips.
Martin first told viewers what the state pension is, how you get it and what "missing National Insurance years" are. You need around 35 years of National Insurance Contributions (NICs) to get the new full state pension although Martin says for "some it can be 30 years and others 40". If you don't have a full year this is classed as having a "gap".
He then explained what missing National Insurance years meant for people and how they will not get their full pension because of it. But there is an opportunity to make up certain missing years through voluntary National Insurance contributions, reports Birmingham Live.
The Money Saving Expert then revealed that the deadline for paying voluntary contributions has just been extended. It was supposed to come to an end next month, but now, people can take advantage of the scheme until April 2025.
He said: "You need to check if you're missing national insurance record to see if you have missing years. If you're missing national insurance years, then you need to check your state pension forecast and whether you can improve your forecast.
"If you have a shortfall, you need to ask whether it is worth buying years - if you're aged 45 to 70, it's actually more for people aged 50 but I've lowered it a little, you should consider whether you need to add on years."
To check if there are any gaps in your NI record, you can use the Gov.uk state pension forecast calculator. After this, the first step is to call the Future Pension Centre - Martin says this will give you one-to-one advice on whether it will be worth it and whether you should be buying NI contributions.
You may also be eligible for credits - which can top up your national insurance records. You can contact the free Future Pension Centre on 0800 731 0175 and if you're already at state pension age, contact the free Pension Service helpline on 0800 731 0469.
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