Martin Lewis MSE shares ‘urgent’ advice for Brits aged 40 to 73 - strict deadline

Experts at Martin Lewis' Money Savng Expert (MSE) have told Brits aged 40 to 73 to check if they are missing out on a "potentially unbeatable opportunity" when it coems to their State Pension. Many people who will reach state pension age in the next few years and decades might be missing National Insurance credits, which determines how much they are entitled to when they retire. However, some people aren't aware that they can buy back six years worth of credits, but there are strict deadlines when you decide to do this.

To get the state Pension, you need at least 10 qualifying National Insurance years. The more years you have after that, the bigger the proportion of the £241.30 you receive once you hit the age to claim. To get the full amount, you need at least 35 qualifying National Insurance years. Some people are missing state pension years, particularly those who have worked abroad, those who have been on a low income, and those who have taken career breaks. The experts at MSE have revealed that buying back missed National Insurance years can result in thousands you would not have otherwise received.

One woman, Martine, said that after listening to Martin Lewis' podcast, she checked her NI contributions and "found I had eight years missing!" She revealed: "I've now paid six years and will pay the next two years when possible. This has made a difference of about £49 a week, which is considerable!"

You can claim back the previous six years, and there is a strict deadline. April 5 is when the year resets, so you have until April 5, 2027 to claim back until 2020.

The MSE experts explain that topping up might not make much sense for those under the age of 40, as they may well fill in the gaps in the rest of their working life before they hit state pension age. However, those aged between 40 and 73 might want to consider buying back the past six years if they have been missed.

According to Gov.co.uk, If you’re "below state pension age, you can also contact the Future Pension Centre to find out if you’ll benefit from paying voluntary contributions."

However, if you’ve already reached State Pension age, contact the Pension Service instead.

Wile paying for extra NI credits might be beneficial to some, others might be able to fill gaps for free. "A range of scenarios see you build up NI entitlement automatically," MSE expert said.