Martin Lewis has provided some urgent advice following the announcement that people will have more time to boost their state pension.
The government extended the deadline for people to voluntarily fill in the gaps present in their National Insurance record which could boost their state pension entitlement. Previously, the deadline was set for April 5 of this year, however, it will now carry on until July 31.
Adding to your NI contributions is a solid way to make sure you get more money if you end up relying on your pension as your primary source of income later in life. This point was reiterated by consumer champion Martin Lewis.
He wrote on Twitter: "Urgent. There was less than six weeks for millions to boost state pension by £10,000s But now the deadline has been extended till 31 August. But still, get on with it."
Martin also stressed the importance of the DWP pension deadline extension on the Martin Lewis Money Show. Speaking on his ITV show, Martin said: "If you are age 45 to 70 you should be looking at this, this is absolutely crucial this could be worth tens of thousands of pounds."
In general, people need around 35 years of qualifying NI contributions to be eligible for the full state pension. The extended deadline applies to years that otherwise have been out of time to pay after April 5 and up to the 2016/17 tax year.
Meanwhile, all voluntary NI contribution payments will be accepted by the government at the existing 2022/23 rates until the new deadline, providing an even further opportunity to boost your pension.
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