Consumer champion Martin Lewis has issued a compelling call for people across the UK to investigate their state pension entitlement, highlighting that filling gaps in a National Insurance record can prove "very lucrative" for retirement income.
The Lucrative Potential of Voluntary Contributions
On his BBC podcast, Lewis detailed how a listener had dramatically improved their pension prospects by acting on his advice. The individual, who previously had only nine years of qualifying National Insurance contributions, was able to purchase 18 additional years. This move was possible under a special scheme that allowed voluntary contributions dating back to the 2006/2007 tax year, which concluded in April 2025.
Under standard rules, you can typically only buy contributions for the past six years. The extended deadline offered a unique window to plug historical gaps, crucial for those transitioning from the old to the new state pension system.
Crunching the Numbers: A Substantial Return on Investment
Lewis illustrated the powerful financial impact of such a top-up. He estimated the cost of buying 18 years would be between £10,000 and £15,000, depending on employment status. In return, this could generate an estimated £120 per week in extra state pension, equating to roughly £6,000 annually.
With the state pension protected by the triple lock, these payments rise each year. Lewis projected that if the pensioner lived for 20 years after reaching state pension age, the total inflation-proofed income gained could reach a staggering £120,000.
Current Rules and Key Considerations
The finance expert was clear that the generous deadline has now passed. Currently, you can only voluntarily contribute for gaps within the last six tax years. Lewis urged people with missing years within this period to check their record and "do the maths" using online guides to see if purchasing extra years is worthwhile.
He emphasised that while it can be a highly profitable exercise, it isn't right for everyone and requires navigating a specific process. To qualify for any state pension, you need a minimum of 10 years of contributions. To receive the full new state pension, which is currently £230.25 per week, you typically require 35 years.
Payments are set to increase by 4.8% next April 2026 under the triple lock, taking the full weekly rate to £241.30, or £12,547.60 annually.
Lewis's core message remains: checking your National Insurance record is a critical step in retirement planning. For those who can benefit, securing missing years represents one of the most secure and valuable financial investments available.
