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Martin Lewis explains how to boost state pension | Personal Finance | Finance

People could get different amounts of state pension based on their National Insurance record. Achieving the full sum will be important to many approaching retirement, and in Money Saving Expert’s latest Money Tips newsletter, Martin stressed it is worth a check.

The new state pension system was introduced on April 6, 2016, meaning this impacts anyone currently aged 70 or under today.

However, Martin drew attention to transitional arrangements which come to a close at the end of this tax year.

Taking advantage of these, the expert said, could mean people gain thousands of pounds in extra cash for retirement.

The Money Saving Expert founder tweeted: “The clock is ticking.

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Martin explained: “Until April 5, 2023, you can buy years to plug NI gaps back to 2006. After that, it’s only back six years.

“When the transitional arrangements end, the number of extra years purchasable drops, so checking now is key. 

“Those at or near state pension age will find it relatively easy to see if topping up may help.”

Purchasing extra National Insurance years, Martin explained, can be “lucrative”.

For example, each £800 a person spends could be worth £5,800.

With a full voluntary NI year costing roughly £800, individuals could stand to add an extra £275 to their state pension annually. 

It means living three years or more after state pension age, or after topping up, means Britons will benefit from this action.

As the state pension traditionally rises each year by inflation, 2.5 percent of average earnings, it could be even more beneficial.

The matter, however, can be complex especially when it comes to calculations.

As a result, Martin has encouraged people to always contact the Future Pension Centre, which will provide tailored advice on whether this option is right for a person. 

A number of people thanked Martin for his guidance, and said the action was useful.

Twitter user @oldpigsqueal said: “I did this a couple of years back. It was enormously cost-effective.”

@barnetteer wrote: “Check done. Although only 55 I have the full 35 qualifying years already. And peace of mind now.”

And @iansave remarked: “Thanks so much for this. I lived overseas between 2002 and 2014. 

“I recently paid due NI contributions, and because I could prove I was working overseas, I had to pay way less than £800 per annum to bring eligible NI up-to-date. Very much for worth doing!”

Martin Lewis is the Founder and Chair of To join the 13 million people who get his free Money Tips weekly email, go to

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