Martin Lewis has shared a way for many people to turn £800 into £5,500 further down the line.
With the cost of living crisis worsening, many of us are trying to find ways to save money where we can. Every penny counts as the cost of food and energy continues to soar.
MSE founder Martin Lewis has been keeping his many followers up-to-date with the latest news as the cost of living crisis worsens. The finance guru is known for his switching and money-saving tips, but recent events have left even him at a loss at how to help people.
READ MORE: Martin Lewis issues £66 warning to those on pre-payment meters
However, in a series of tweets on Monday, he flagged a tip that could see people claim thousands of pounds in cash. Sharing a video from his Money Live Show, he said: "Age 45 – 70? Can you pay £800 to boost your state pension by £5,500…"
In an MSE article, which he also shared, there were more detailed steps to follow. According to the article, people aged between 45 and 70 "may find buying extra national insurance (NI) years is the best way to boost your state pension".
For those eligible, the returns "can be huge". People who spend £800 could get as much as £5,500 back. Most people will need around 35 qualifying years to get the new state pension, and for people who have the cash to plug NI gaps, it could be a great way to boost your pension by thousands of pounds.
To find out more, read the MSE article here
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