How to turn £800 into £5,500 - Part Two
The Martin Lewis Podcast
00:00
Do You Have a Baboon Warning?
A voluntary national insurance year costs about 800 quid, but it adds £275 a year to your state pension. A man who reaches age 66 would typically live 19 more years if he paid for the extra year. If that were to happen, each 800 pounds you paid would be £5,300 extra onyour state pension. For those in an older tax bracket, go and check whether you're missing any years. You can go back to 2006 now, but you won't be able to do that after next April. It's worth spreading word because the window of buying back those older years is soon to shut.
Transcript
Play full episode
