During The Martin Lewis Money Show Live this evening (June 13), the financial expert himself announced the deadline to apply for a state pension boost had been extended for men and women.
Martin said around 800,000 people are missing out on pension credit which includes those who have a single total income under £220 a week or a couple both of state pension age with a total income of £320 a week.
Broadcast on ITV1 and hosted by Angellica Bell in front of a seated audience, he said the date to buy back any missed National Insurance (NI) years from 2006 until 2016 only changed yesterday (June 13) and “could be a coincidence” that it happened before his big show.
This applies to those on the ‘new’ state pension for men born after April 5, 1951 (max age of 72) and women born after April 5, 1953 (max age 70).
Important: The deadline for buying missing National Insurance years for your state pension back to 2006 has just been extended again to April 2025 (was July 23)
— Martin Lewis (@MartinSLewis) June 12, 2023
I suspect it isn't a coincidence that this announement comes the day before my @itvMlshow special on it, with the…
Martin explained that people need around 35 qualifying years of NI to get the full state pension.
Deadline to boost your state pension extended until 2025
The new deadline for those wanting to buy their missing NI years has been extended to April 5, 2025.
This means before the newly announced date in 2025, “transitional arrangements” were due to end which let you “plug” any NI gaps back to 2006.
However, after the transition you can only go back a total of six tax years and the prize of buying extra NI years has been frozen, Martin said.
Martin also suggested you can check if you are due the funds via the Gov.UK website or by contacting the Pension Credit Helpline.
He said although he isn’t saying you will definitely get it, people should check their eligibility for pension credit as this is worth £3,500 a year.
He also explained that people on pension credit are entitled to the remaining £600 cost of living payment, council tax help, water bill help, dental help, and a TV license if they are aged over 75.
He added: “Getting pension credit opens a massive door of other entitlements to you, so even if the pension credit itself isn’t worth much, you really want to get it.
"Please, if you are watching this and you’re 22 and you’re saying it’s not me, if you know someone of state pension age on a low income just check with them.”
More information about state pensions can be found on the Money Saving Expert website.
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