Money expert Martin Lewis says time is running out to add as much as £6,100 to your state pension.
The money expert has issued a six month warning to people born in certain years that they need to hurry up if they want to boost their annual state pension.
tonight put out an urgent warning to his followers explaining that the deadline to buy back missing National Insurance years in your record is rapidly approaching.
To get the full state pension, currently £220.20 per week, you need to have a full National Insurance record of about 35 years.
For whatever reason - time off work, time outside the UK, earnings too low - you may not have a full record which means you may not qualify for a full state pension at the maximum payout.
There is currently a scheme whereby people missing NI years can buy back up to 13 of them for roughly £835 per year, but the scheme is closing in six months from now.
That sounds like ages, but it takes time to sort out the application so you need to get a move on.
Martin tweeted: "This is your 6mth warning!
"For each £825 or less you pay to buy National Insurance years, many gain £5,400+, but much closes in April. It's the MOST LUCRATIVE thing many under age 73 can do, some gain £10,000s. The process ain't quick, so check it now."
He then added via his Money Saving Expert website: "The 'new' State Pension was introduced in 2016, for all men born after 5 April 1951 and women after 5 April 1953. To get the FULL amount, you need 35ish (it varies wildly) qualifying NI years - earned from work, looking after children, or via some benefits. Yet many miss past NI years, due to years abroad, low incomes, career breaks or not claiming credits.
"Two checks everyone should make. Check your NI record to see if you're missing any full years since 2006.
"Old years typically cost up to £825, but can be worth an 'inflation-proofed' £5,000+ to you. A full voluntary class 3 (employee) NI year usually costs £800 to £825. Self-employed class 2 years cost around £160. And partial years cost a lot less.
Each extra NI year typically adds £329 annually to your State Pension. So even for a full year, it'd pay you back after two and a half years of State Pension - after that, it's profit.
"A 66-year-old man living for the typical life expectancy would get a total of £5,400 back, a woman £6,100"
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