Martin Lewis has warned viewers that they have only “six weeks” to get an urgent state pension boost. The money expert and broadcaster discussed the topic in the latest episode of ITV’s The Martin Lewis Money Show on Tuesday, February 21.
The finance expert explained that transitional arrangements for buying missing National Insurance years between 2006 and 2016 end on April 5. If people have missing years within that period, perhaps because they were not working, they could miss out on claiming the full state pension amount. Buying those years back could qualify you to earn more later on in retirement.
As an example, Martin said you can spend £800 or less plugging a gap in National Insurance payment years that could result in £5,500 later on when you claim state pension. Most people will need about 35 full qualifying years of National Insurance to qualify for the full state pension amount, which is currently £185.15 a week.
