The Money Saving Expert team says people aged between 43 and 70 could turn £800 into £5,500
Martin Lewis ' MoneySavingExpert.com has shared a clever tip for workers aged between 43 and 70 looking to boost their retirement funds. The team at MSE suggests that they can turn £800 into a whopping £5,500 for their retirement.
Time is of the essence, as the deadline to fill these gaps is rapidly approaching in April 2025. The MSE newsletter highlighted: "AGED 40 TO 73 AND NOT DUE A FULL STATE PENSION? Boost it by turning £800 into £5,500+ . To get the full state pension, you'll need 35ish complete NI years - most get these through working or claiming benefits.
Martin Lewis, the founder of MoneySavingExpert.com, has previously shared calculations suggesting that if a 66 year old man lives for another 19 years and a woman for another 21 years, each £800 spent could result in an additional £5,300 for men and £5,800 for women in pension payouts. However, he emphasised that these figures are approximate due to the complexity of state pension rules and individual circumstances.
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