Martin Lewis says everyone born in these years could get £6,100 – but you need to act fast

Martin Lewis pointed out that anyone born between certain years could be eligible for a £5,400 payment from the government, but the deadline to claim is fast approaching. The money-saving expert urges people to check their eligibility and apply as soon as possible.

The new State Pension, introduced in 2016, applies to all men born after 5 April 1951 and women born after 5 April 1953. If you were born after these dates, you may be able to claim extra years of National Insurance. To “buy back” the missing years on your record, you will need to spend a small amount of money. These years can be missed for various reasons, such as going abroad, not earning enough to qualify in a particular year (for example, losing your job or taking maternity leave).

You’ve been able to buy back years you’ve missed since 2006, but that opportunity will end before April 2025. While 11 months may seem like a long time, the process isn’t quick, and you may need to save up to buy back years, the Express reports. Each year it costs a maximum of £824 to claim, with different amounts since 2006. However, you’ll get around £329 back in state pension per year, meaning you’ll be ‘profiting’ in less for three years.

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According to Martin Lewis, men and women could earn around £5,400 and £6,100 respectively if they live an average life expectancy (due to women generally living longer).

On his Money Saving Expert website, Martin Lewis shared, “While many have told me it can be a pain in the ass to get to talking to someone along these lines, once I do, most say that it is extremely useful. Like Tom:” A big THANK YOU for the NI advice and for calling the pensions. I missed 9 years.

“I rang to be told that all I needed to buy was 7 years to qualify for an extra £40/week (so £2,000/year). If I hadn’t called I probably would have paid the full £7,500 and lost around £1,800 now I’m looking forward to getting my full pension.’