How to turn £800 into £5,500
The Martin Lewis Podcast
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The Baboon Warning Is a Red Flag Warning
A voluntary national insurance year costs about 800 quid. But it adds 275 pounds a year to your state pension. If you live just three years after buying the extra year, you're even. For example, a man who reaches age 66 would typically live 19 more years. Each 800 pound page paid would then be 5,800 pounds extra onYour state pension. And of course, normally, and there's been big debate about this, has the triple lock. It goes up with inflation or average earnings or 2.5%. So this is inflation proof too. I'd love to know if you had any gaps in your national insurance record that you weren't expecting. You can email Martin Lewis
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