Money saving expert Martin Lewis has issued a timely reminder to state pensioners, urging them to check a crucial six-year rule that could significantly boost their retirement income.
The Six-Year Window for Topping Up
During a recent episode of his popular podcast, available on BBC Sounds and Apple Music, Lewis highlighted a major change in the rules. He explained that while a previous extended scheme allowing people to buy contributions dating back to 2006 ended in April 2025, a key opportunity remains.
You can now only go back six years to fill gaps in your National Insurance record. This rule is a legacy of the transition from the old state pension to the new system. Lewis stressed that for anyone missing years within this six-year period, it is essential to "check and do the maths" to see if a top-up is financially beneficial.
A Lucrative Investment for Retirement
The potential gain from purchasing missing years can be substantial. Lewis cited the example of a listener who, acting on his previous advice, was able to buy 18 years' worth of contributions before the old deadline passed.
Lewis estimated this cost the listener between £10,000 and £15,000, depending on their employment status. In return, however, they secured an estimated £120 per week in extra state pension, equating to roughly £6,000 a year.
With the current full new state pension at £230.25 a week, and set to rise to £241.30 weekly next April due to the 4.8% triple lock increase, filling gaps can be a wise move. Having 18 years of contributions would provide around £124 a week, or nearly £6,500 annually.
Is Topping Up Right For You?
Martin Lewis was keen to note that while the financial return can be "very lucrative," buying extra years "isn't right for everyone." The process requires careful calculation based on individual circumstances.
He pointed listeners towards online guides that can help decide if purchasing contributions is worthwhile. Typically, you need 35 years of qualifying contributions to receive the full new state pension. For those with gaps in their record, a relatively small outlay now could translate into tens of thousands of pounds over a typical retirement, especially as the pension is inflation-proofed by the triple lock.
Lewis illustrated this long-term benefit, stating: "Let's say you live 20 years from your pension age... that's £120,000." His urgent message is clear: the window to act is limited, so checking your National Insurance record should be a priority.
