Martin Lewis six month state pension warning to thousands

People have until April 5, 2025, to make voluntary National Insurance contributions and maximise their State Pension.

After the 5 April 2025 deadline, people will only be able to make voluntary contributions for the previous 6 tax years, in line with normal time limits.

Money Saving Expert Martin Lewis explained: “For each £825 or less you pay to buy National Insurance years, many gain £5,400, but much of it closes in April.

“It is the most lucrative thing many under the age of 73 can do, and some gain £10,000s.

“The deadline is half a year away but the process isn’t quick so start now.

“While boosting your State Pension doesn’t sound sexy, this is about big money and we have had huge successes.”

These are the steps Martin Lewis recommends following:

• Check your National Insurance record and check if you are due to get the full State Pension
• Can you plug any gaps in your National Insurance for free?
• Check if you are missing any years from 2006 to 2018 and decide if its worth buying the missing years

The Money Saving Expert has previously urged people to act to fill missing years in their National Insurance history.

Explaining the process previously on the Martin Lewis podcast, he said: “We need to spread the word on this. On April 6 2016 that was the day they introduced the new state pension.

“For those who hit pension age since then, you have been put on the new state pension.

“As part of that, transitional arrangements were put in place. Those transitional arrangements are set to end.

“This is all about your National Insurance years. The amount that you get in your state pension is about the number of qualifying years that you have.

“You can acquire years by working. Minimum wage, and you will get National Insurance credits, or if you’re not working there are other ways you can get NI credits for example if you are raising children or have a disability.

“Now to get the full state pension when you retire, on the new state pension, you will need 35 years ish.

“Some of you when you get to retirement will be missing years – it might be you were on a low income or working abroad.

“Anybody listening right now, do this. If you are not yet at state retirement age, go to gov.uk and look up your state pension summary.

“That will tell you when you will get your pension and it will give you a forecast of how much you are likely to get.”