Martin Lewis shares ‘one of the most substantial life-changing pieces of finance’ advice

Martin Lewis revealed how Brits can ensure they get their full state pension when they retire.

The money-saving expert gave his advice while appearing on Good Morning Britain (GMB) today to discuss his new ITV show, The Martin Lewis Money Show Live, which will return to screens for a two-episode run tonight.

In the first episode, which he has described as a ‘must watch for 45-70s’, Martin will discuss how people check whether they are on track to get their full pension, and what they can do to make sure they boost it.

He explained that missing National Insurance years means people will not get their full pension, but there is an opportunity to make up certain missing years via voluntary National Insurance contributions.

Martin revealed that the deadline for paying voluntary contributions has just been extended – it was supposed to come to an end next month, but now, people can take advantage of the scheme until April 2025. 

Money Saving Expert Martin Lewis appeared on Good Morning Britain today (pictured) to share some savvy financial advice

Speaking on GMB this morning, he said: ‘This is probably one of the most substantial life changing pieces of finance out there, but it’s fundamentally under covered. 

‘The fact is, to get your full state pension when you retire, you need enough National Insurance. Now, the the full number is around 35 [years’ worth] – it is not 35, don’t think it’s 35, it’s around 35. There’s no exact number. I need to say that every time. 

‘So what I’ll be talking people through tonight, step by step, is how to check whether you’re on track for a full state pension. 

‘And if you’re not on track for full state pension, you can then go to, to see what National Insurance years you’re missing. The crucial bit is that at the moment you can get years back to 2006.’

He explained that the scheme had been due to come to an end, but had been extended, as the phone lines had been jammed with people calling to make sure they could make payments and boost their pension. 

Martin added that the phones had been so busy ‘mainly because [he’d] been doing shows on’ the issue. And he said that while the extension meant people had longer to check the scheme out, he warned ‘do not rest on your laurels’.

Martin said: ‘This is really important, and certainly anyone who is already getting their state pension, the quicker you do it, the quicker you gain. 

‘So the way it works, is that you can either in some cases get some National Insurance years for free, or you will pay up to £800-ish for a National Insurance year. For some people , it could be a lot cheaper than that. 

Martin took to Twitter to share his reaction to the news that the government is extending the deadline for the voluntary payments

Martin took to Twitter to share his reaction to the news that the government is extending the deadline for the voluntary payments

‘And for each year you buy if you don’t have the full state pension, it will add £250 a year to your pension. 

‘So…you pay £800, it adds to £250 a year, the break even point is three years. Most people live 20 years into their state pension, which is why they will get so much more but it’s fundamentally under publicised.’

He added that millions of people are potentially due to get this money, and that it is inflation proof, and that it could benefit people by tens of thousands. He has described the numbers as complicated, but has said that essentially, if people reach the traditional life expectancy, they will get £5000 back per £100 spent.

After the government announced it was extending the deadline, Martin Lewis took to Twitter to respond to the news.

He wrote: ‘I suspect it isn’t a coincidence that this announcement comes the day before my special on it, with the pensions minister coming on, knowing I was going to go hard about people having to call the Future Pensions Service 100s times before they get an answer.

‘Overall though the extension is very good news.’

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