Under 73? Turn £800 or less into £5,400 or more. The clock’s ticking… it’s all about National Insurance
May 8, 2024
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Learn how to boost your state pension by buying voluntary National Insurance years. Discover tips on managing household finances and flight delay compensation. Hear about using children's savings responsibly and get insights on maximizing state pension benefits through contributions. Enjoy a humorous DJ tale mixed with discussion on flight delay compensation criteria and success stories.
Buying extra national insurance years can result in significant state pension boost for individuals under 73.
Potential of increasing state pension through buying missed national insurance years for financial security in the future.
Checking state pension forecast online and considering buying partial years can add up to £329 annually, crucial for future financial stability.
Deep dives
Buy Extra National Insurance Years for State Pension Boost
People below 73 can pay £800 or less to gain £5,500+ by buying extra national insurance years for state pension boost. Changes limit buying back years back to 2006. Online options available, crucial for under 73s.
Eligibility Criteria for Buying National Insurance Years
New state pension requires 35-ish national insurance years for full pension. Commonly missed years due to low income, career breaks, or not claiming credits. Future changes reduce buying back years to 2019.
State Pension Forecast and Buying Years
Check state pension forecast online for eligibility and need for extra years. Partial years cheaper, self-employed pay £160/year. Buying years can add £329 annually to state pension, crucial for future financial security.
Flight Delay Compensation Rules Explained
Flight delay compensation applies to EU flights delayed over 3 hours due to airline fault. Fixed compensation rates per distance travelled. Passengers entitled to compensation per person, regardless of flight cost.
Northern Rail Discount Offer for New Customers
Northern Rail offers new customers 50% off advanced train tickets via their app. Obtain code on Northern website, use in app for discount. Applicable for single transactions without rail cards. Check live prices for code validation.
On this week’s podcast Martin explains how you can buy voluntary National Insurance years to boost your state pension and why it is one of the most lucrative things many can do with their money. TELL US is about if listeners have ever taken money from their childrens accounts to help the household finance, or broken their piggybanks. Later in the pod, Martin shares his latest money-saving tips and Nihal attempts another tricky Mastermind question.
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