But you need to act fast
Money saving guru Martin Lewis has shared a simple way that many people can advance their state pension pot by turning £800 into £5,500. The Money Saving Expert founder gave yet another batch of useful advice to listeners in the latest episode of his weekly, self-titled The Martin Lewis Podcast, reports Manchester Evening News.
"But it is worth everyone listening because if you're not in that age category then it might help someone you know and we need to spread the word on this." "This is all about your national insurance years as the amount you get in your state pension is based on the number of qualifying national insurance years that you have. You can aquire years by working and you need to be earning over £123 so minimum wage on a minimum number of hours per work.
Martin then issued advice to help anyone get the maximum amount of years. "For anybody listening right now, 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 are due to get your state pension and it will give you a forecast based on your current national insurance record of how much you are likely to get," he said.
"After April 2023 you'll only be able to go back six years. So as you can see there is a substantial number of years if you're missing them you only have a short window left to buy them.
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