Martin Lewis explains how to turn £825 into £5,400 and says 'start now'

has shared how you can boost your finances and turn £825 into £5,400.

The Money Saving Expert (MSE) founder shared the advice on boosting your in his weekly . Martin warned that there are only six months left to plug any missed National Insurance years to top up your state pension.

Most people need 35 qualifying years on their record to get the full new and ten years to receive anything at all. At the moment, you can buy back missing National Insurance years dating back to 2006 - but the rules are changing so that after April 5, 2025, you will only be able to go back six tax years.

The MSE newsletter explained that it normally costs between £800 and £825 to buy a missing National Insurance year and this adds up to £328 each year to your pre-tax state pension. Martin noted that a 66-year-old man living the "typical life expectancy" could get an extra £5,400 added to their state pension while a woman could see it boosted by £6,100.

Have you plugged gaps in your National Insurance record to boost your state pension? Let us know: mirror.money.saving@mirror.co.uk

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The newsletter said: "While 'boosting your State Pension' doesn't sound sexy, this is about big money. It's the MOST LUCRATIVE thing many under age 73 can do, some gain £10,000s. The deadline's half a year away, but the process ain't quick, so start now."

The newsletter shared stories from two fans who followed his advice and boosted their pension pots. Martin Lewis fan Cheryl emailed in to say she had boosted her state pension by potentially £50,000 by paying for seven extra years.

Cheryl's email read: "Thank you so much for making the nation aware of the National Insurance buyback. I'd been unaware my 36 years didn't entitle me to a full State Pension (some had been contracted out). I've now paid for seven extra years, which will gain me £40,000 - £50,000 depending on lifespan. A huge thank you."

Another Martin Lewis fan wrote in to thank the MSE founder as he boosted his state pension by £2,496 a year after plugging six National Insurance years. He explained: "Following your advice, I claimed National Insurance credits for looking after our grandchildren after I'd retired. I still needed six years for a full State Pension.

"The application was easy, though it took 25 weeks to process. I will (eventually) get all six years free. My new State Pension will rise from around £173/wk to the max £221/wk, giving an additional £2,496 per year. I wouldn't have known about this without you and the team."

Contact the free Future Pension Centre on 0800 731 0175 before buying any National Insurance contributions to check if you'd benefit from plugging any gaps in your National Insurance record. If you're already at state pension age, contact the free Pension Service helpline on 0800 731 0469.

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