A pensioner added £89,000 to their pension pot thanks to a Martin Lewis tip. Jeanette from Shropshire appeared on tonight’s Martin Lewis programme on ITV1 to explain she was looking for ways to boost her husband’s pension after he was forecast to receive just £138 per week. This sum, in 2023, was £65 lower than the weekly state pension of £203.
Her husband had 16 years of missing pension contributions for the years he looked after their two children, but when the couple looked into paying to plug the gap, it would have cost them £8,000, which they could not afford. However, in March 2023, Lewis showed viewers how to check if they were due for free credits, and essentially plug the contribution gap for free, for example, if you were a carer or had childcare responsibilities. After investigating, Jeanette found that the free credit contributions had been going to her instead of her husband for 16 years.
Jeanette filled out two forms, and by September it was confirmed her husband would get the full state pension, which at the time was £203 a week, which was the equivalent of £89,000 added to the pension pot over 30 years.
Lewis confirmed pensioners can check whether they have missing national insurance (NI) contributions dating back to 2006 on Gov.uk, but only until the end of the tax year.
The checker allows you to find any gaps in contributions, see if you can claim free credits, and decide whether you can benefit from paying voluntary contributions.
You usually need at least 35 full national insurance years to get the maximum new pension payments, which is currently £221.20 a week.
Even if you are not due free credits, Lewis encourages viewers to consider paying to plug gaps as it can be incredibly worthwhile, with reports that people spend £824 or less and get £5,500 back.
Lewis, founder of MoneySavingExpert.com (MSE), said: “Boosting your state pension by back-claiming or buying missing National Insurance years is one of the single most lucrative things you can do.”
