Martin Lewis says £330 payment could boost State Pension by £6000 (2025)

Martin Lewis wants people to boost their pension payments before an urgent deadline

Martin Lewis is warning people not to miss a crucial deadline this weekend that could boost their State Pension payments by tens of thousands of pounds. The consumer expert co-presented Good Morning Britain on Tuesday and shared tips on saving money on Council Tax and energy bills ahead of April's price hikes.

He also provided a quick checklist for those aged 40-73 to check if they can increase their State Pension by up to £6,000. However, he cautioned that individuals with missing National Insurance Contributions only have until April 5 to purchase those missing years, dating back to 2006.

From April 6, they will only be able to fill in missing NI years going back to 2019, reports the Daily Record.

Martin explained to viewers: "If you've got at least 10 years, you will get some State Pension, to get the full State Pension, you need around 35 years. If you get the full State Pension you currently get £221.20 per week, but from next week it's going up to £230.25 per week."

He added that qualifying years typically come from employment, caring for children and claiming Child Benefit, or through certain benefits from the Department for Work and Pensions. However, he noted that "many are missing past NI years, commonly due to years abroad, low incomes, career breaks or not claiming credits."

He emphasised: "One year usually adds £330 a year to your State Pension and it's protected by the Triple Lock, it's inflation proof, so if you live 20 years (typical life expectancy), that's a £6,000 annual gain."

Financial expert Martin Lewis is advising individuals to go online to review their State Pension and National Insurance records to ascertain whether they can enhance their pension provisions for retirement.

It should be noted that these actions will principally benefit individuals who have reached State Pension age post-April 2016, but are not yet receiving the full New State Pension weekly amount of £221.20 or are currently under the State Pension age of 66.

Below lie two vital steps everyone should take - quick activities that could uncover potential gaps in State Pension entitlement.

Step 1: Review your National Insurance record

Martin highlighted how incomplete NI years can negatively influence State Pension amounts. A swift assessment on GOV.UK can pinpoint any missing years - access this information here.

Step 2: Assess your State Pension forecast

On the GOV.UK 'Check your State Pension forecast' page, available here, you can estimate your State Pension entitlement.

The information provided will also clarify your official State Pension age – the age at which you're eligible to begin receiving pension payouts.

Upon conducting these checks, if you find yourself on course for the full, new State Pension, further action isn't needed. However, if there are gaps, you now have the chance to investigate how to elevate your pension, potentially at no cost.

Here are three principal strategies to boost your State Pension for free:.

• Grandparents providing childcare - Martin explained that if a family member looked after a child under-12 at any time since 2011, before they were State Pension age (even if they are now) as parents/guardians were working, then the parent can apply to transfer their child care credit to the family member.
• Child Benefit - check for missing NI credit.
• Carer's Credit - this is a free NI credit for those aged 16 to State Pension age who provide unpaid care.

Buying missing NI years

If you have the funds available, you can fill in gaps in your National Insurance (NI) record by purchasing voluntary class 3 NI contributions. Acquiring a full additional year costs approximately £825 or less, though part years will be cheaper - as low as £16.

For each year purchased, you receive 1/35th of a year's State Pension - around £329. This implies that you effectively recoup your investment in about three years, making it potentially excellent value.

However, it is crucial to verify that it is beneficial for you to pay for these credits, so always consult with the Department for Work and Pensions (DWP) before proceeding.

Before making a decision, seek advice

Determining whether to top up can be perplexing, and ultimately there is no benefit in paying for more years than necessary because you won't get that money back.

The optimal solution is to contact the UK Government's Future Pension Centre on 0800 731 0175 to double check how many years you can purchase and whether voluntary contributions will increase your State Pension.

Those who have already reached retirement age should contact the Pension Service on 0800 731 0469.