The consumer champion warns that millions of people are missing out on full payments worth £221.20 each week. Martin Lewis is urging people on the New State Pension - and those due to retire - to make sure they are receiving the maximum weekly amount of £221.
20. The money expert has warned millions of people are missing out on the full payment in retirement and running out of time to boost their retirement income by more than £5,400. In a special one-off summer edition of The Martin Lewis Money Show Live, the financial guru told ITV viewers: “I’ve done urgent warnings about this before because the deadline was in the past.
..but there’s another one coming up and I'm pretty sure this is the last one.
” The crucial deadline he’s referring to is about being able to plug any gaps in your National Insurance (NI) record - which determines the amount of State Pension you receive in retirement . The deadline to buy missing years, going back to 2006, is April 5, 2025. It’s important to be aware that his steps will only apply to those claiming, or due to claim the New State Pension - men born after April 5, 1951 and women after April 5, 1953.
The checks should also only be made by those aged 73 or under. Martin explained that to receive the full New State Pension, people need around 35 years’ worth of National Insurance (NI) contributions. But he stressed that this is not a guarantee and just an average as some people may have been ‘contracted out’ and will need more.
