Money saving expert Martin Lewis has issued a warning to his audience over state pensions. According to the money guru, a person typically needs around 30 years' worth of National Insurance (NI) contributions to receive a full basic state pension upon retirement.
To receive the full new state pension, people are usually required to have an extra five years on top of this - meaning it's important to see if you have any gaps in payments into National Insurance prior to retirement.
This could reduce how much you receive. One woman recently told Martin on his BBC Sounds podcast that she was amazed to discover that she hasn't paid enough in National Insurance to receive the full state pension, with Mr Lewis warning others to not fall into the same circumstance.
