People could be missing out on thousands of pounds (Image: Getty)
Financial expert Martin Lewis is calling on people to do one thing tonight – it could transform your retirement. He says the move is vital and could transform their retirement finances by thousands of pounds.
The Money Saving Expert website founder says anyone aged between 40 and 73 should tune in to his ITV show tonight when he will explain how they can check their to make sure they will get all they can. Posting on he stated: “Please help me spread word that tomorrow (Tue) 8pm on ITV The Martin Lewis Money Show I’ll be talking you through how to check if you can boost your by possibly £10,000s.
“There is an urgent deadline coming after which many lose the opportunity. This is a must watch for anyone age 40 to 73.”
Answering those who asked if it could help people aged either under 40 or over 73 he said: “They can watch obviously just can’t do it.”
To qualify to be paid the full people usually need 35 years full National Insurance (NI) payments. Currently the full weekly rate is £221.20 which will increase to £230.25 this April, .
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But there are thousands of people who will miss out on the full payment as they have paid in for insufficient years. This could be as a result of things such as low-paid work, gaps in employment without claiming benefits or being self-employed but not paying contributions as profits were low.
HM Revenue and Customers () has been allowing people to pay for these missed years. However the deadline to do this is April 5.
: “Boosting your by back-claiming or buying missing National Insurance years is one of the single most lucrative things you can do. Many people have been in touch to say they’re likely to gain £10,000s from it.”
But he told people they must act quickly. He said the deadline had been delayed twice to stop people missing out with phone lines “clogged” in the run up to the previous cut-off points. People can now apply online but he fears there will be similar issues as the deadline looms.
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He said: “I am concerned we will have similar issues again – and while I’m glad some people can now do it online as well as call – there are still too many who will be forced to get stuck in phone queues. There may be a need to extend it again without the full online access.
“In the meantime, most importantly, I’d urge everyone aged 40 and over to check out our guide now, while there’s still plenty of time to see if it applies to you.”
Many of his followers said they would be watching the show. Others told how they were already having issues with resolving the situation.
Martin Lewis has been previously recognised for his work in helping people financially (Image: Getty)
Tracey said: “Mine says I can’t pay online. Tried calling 3 times only to be cut off each time while being on hold.”
Liz added: “I managed to get through after an hour hanging on the phone only to be told I needed to send a letter! I can’t top up until they correct a mistake on the website. No way to prove I’ve sent a letter as the signed letter option I paid for at the Post Office doesn’t work. I’ve no idea if they got it so sent another. Again no way to confirm they received that either. It’s a terrible system.”
Claire said: “Only found out last year that the 6 years I was short was because credits for family allowance being at home stopped when youngest was 12 not 18 as I thought just paid £4800 to make up the short fall so pension will £219 when I retire in 7 years time instead of now when I started work.”
The Martin Lewis Money Show is on ITV on Tuesday, March 4, at 8pm