New Martin Lewis State Pension update for people trying to boost retirement payments
The full New State Pension is now worth £230.25 per week.
Martin Lewis has reassured people who were trying to top-up their State Pension before the deadline last month that they will not miss out on the chance to increase their retirement income. People were able to plug gaps in their National Insurance - which determines the amount of State Pension someone receives - until the end of the 2024/25 financial year on April 5.
The Department for Work and Pensions (DWP) urged people to arrange a callback before the deadline to ensure they would not miss out.
During the Martin Lewis Money Show Live summer special on ITV on Tuesday, the consumer champion explained that DWP will make the callbacks, but is dealing with a backlog and prioritising those closest to State Pension age.
Robert contacted the programme about the issues and said: 'My wife and I have requested calls with the DWP about our State Pension. As of yet, neither of us has received a call. At what point should we be getting worried that they haven't called us?'
Martin responded: 'I've had calls in to the DWP about this and I've had half an answer, I'm still waiting on the other half. The basic answer is they're prioritising people at State Pension age, or near State Pension age so that they will get their uplift straightaway - or as soon as possible.
'The younger you are, the further away you are from State Pension age you are, the lower down the queue you will likely be. Should you be worried? No.'
He continued; 'Some people are getting calls now, but many people haven't had calls. What I haven't had an answer from the DWP is, how long this process is likely to take - my guess is it could be another three or four months so I wouldn't be panicking yet.'
The financial guru added that he will post updates from the DWP on his social media channels as soon as he has them.
He added: 'The truth of it is, as long as you made the call before the 6th of April deadline, once the DWP calls you, you're still going to be able to get it within the cut-off.'
People were able to buy missing NI years going back as far as 2006 before the April deadline, now they can only buy voluntary NI contributions going back six tax years - to 2019.
It's important to be aware that plugging NI gaps can only help boost payments for those who reached State Pension age after April 2016 who are not in receipt of the full weekly rate of the New State Pension - now worth £230.25 per week, or those under the current State Pension age of 66.
How to get any New State Pension payment
You will need at least 10 qualifying years on your National Insurance record to qualify for any State Pension, but they don't have to be 10 qualifying years in a row.
This means for 10 years at least one or more of the following applied to you:
you were working and paid National Insurance contributions
you were getting National Insurance credits for example if you were unemployed, ill, a parent or a carer
you were paying voluntary National Insurance contributions
If you have lived or worked abroad you might still be able to get some New State Pension.
You might also qualify if you have paid married women's or widow's reduced rate contributions - find out more about this on the GOV.UK website here.
How to get full New State Pension payments
The first thing to understand is that the term 'full' means the maximum amount of New State Pension a person can receive.
You will need around 35 qualifying years to receive the full New State Pension if you do not have a National Insurance record before 6 April 2016 - this may be more if you were 'contracted out', find out more here.
For people who have contributed between 10 and 35 years, they are entitled to a portion of the new State Pension, but not the full amount unless they buy additional NI years.
Qualifying years if you are working
When you are working you pay National Insurance and get a qualifying year if:
you're employed and earning over £242 a week from one employer
you're self-employed and paying NI contributions
You might not pay National Insurance contributions because you're earning less than £242 a week. You may still get a qualifying year if you earn between £123 and £242 a week from one employer - find out more here.
Qualifying years if you are not working
You may get National Insurance credits if you cannot work - for example because of illness or disability, or if you're a carer or you're unemployed.
You can get National Insurance credits if you:
claim Child Benefit for a child under 12 (or under 16 before 2010)
get Jobseeker's Allowance or Employment and Support Allowance
receive Carer's Allowance
If you are not working or getting National Insurance credits
You might be able to pay voluntary National Insurance contributions if you're not in one of these groups but want to increase your State Pension amount. Find out more on the GOV.UK website here.
What if there are gaps in your National Insurance record?
You can have gaps in your NI record and still get the full New State Pension. You can get a State Pension statement which will tell you how much State Pension you may get. You can then apply for a National Insurance statement from HM Revenue and Customs (HMRC) to check if your record has gaps.
If you have gaps in your National Insurance record that would prevent you from getting the full New State Pension, you may be able to:
get National InsuranceI credits
make voluntary National Insurance contributions
Check your National Insurance record on GOV.UK here.
Check your State Pension age
Check your State Pension age to find out when you can retire and claim State pension using the free online tool at GOV.UK here.
This will tell you:
when you will reach State Pension age
your Pension Credit qualifying age
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Western Telegraph
7 hours ago
- Western Telegraph
Tesco set to change opening hours in some stores in the UK
The supermarket giant is reportedly looking to trial earlier closing times in different stores across the UK. It comes after the company was hit by a large rise in staff costs. Tesco said the change is to ensure these shops are running "in the most efficient way". Tesco set to change opening hours to stores in the UK A Tesco spokesperson told Newsquest said: 'Our Express format is a strong and growing business, providing great value and convenience for customers on their doorstep. "In a small number of stores, we are trialling some tweaks to our operational routines to make things simpler for our colleagues and to ensure that we are running these shops in the most efficient way. "These changes aren't visible to our customers, who will continue to receive the same great service they expect, and there are no changes to the range of products we sell.' The Express stores will remain branded the same way and there will be no redundancies. The Telegraph reports that the chosen Tesco Express stores will be shutting an hour earlier, at 10pm rather than 11pm. 5 ways to save money on your weekly food shop It is not confirmed which stores will be affected, however, the Telegraph claims workers have been told the trial is taking place in some of Tesco's "less profitable stores". It is also understood that Tesco will be speaking to colleagues ahead of any changes to roles, including possible transfers. The change to opening hours comes after Tesco's chief executive, Ken Murphy, said that the supermarket needed to offset a number of extra costs following the Spring budget. In April, Tesco said it was facing a large rise in its staffing bill, which included an increase of £235m in National Insurance contributions in the latest financial year. Various changes at Tesco stores The trialling of new hours is not the only change at Tesco stores in the UK. Tesco has become the latest supermarket to roll out new "VAR-style" checkouts in some of its stores. The new self-service checkout systems feature a camera that records customers scanning and packing their shopping. Earlier this month, Sainsbury's also rolled out its own "VAR-style" checkouts. Tesco shoppers have also recently discovered a major change to bakery sections across stores in the UK. Customers have spotted notices being put up in bakeries stating that from 7pm, loose bakery products will be slashed to half price. What's the Difference Between Best Before and Use-By? It's been reported that this used to take place at 5pm, but it's been moved back by two hours, according to The Sun. The supermarket giant, which makes reductions to bakery items every day to help reduce food waste, confirmed to Newsquest that pastries and sweet treats are usually discounted at around 7pm, however, timings can vary by store. Tesco is also considering a major change at checkouts and to all products, according to Retail Gazette. Recommended reading: The supermarket giant has been trialling replacing traditional barcodes on 12 of its own-branded fresh produce and meat items at some of its stores across the UK. If successful, the move would see Tesco replace hundreds of product barcodes with QR code technology in its latest digital modernisation. The new scanning feature would provide shoppers with important nutritional information about the product they are buying.
Leader Live
9 hours ago
- Leader Live
Martin Lewis: How to cut council tax bills and get a rebate
On X, he said: "Moving or just moved house? One of the most important things you should do is check whether you're in the right council tax band. You only have six months to make a formal challenge, after that its much trickier. "(Renters can do this too, though courtesy would indicate you notify the landlord)." On his Money Saving Expert website, he posted: "Hundreds of thousands of homes across England and Scotland are thought to be in the wrong Council Tax band. This means it's important to check your property's in the right band – something our tried-and-tested system can help you do. Some homeowners and renters have unknowingly been overpaying Council Tax for many years, even decades, because their bands are too high, so payouts worth £1,000s are commonplace." Moving or just moved house? One of the most important things you should do is check whether you're in the right council tax band. You only have six months to make a formal challenge, after that its much trickier. Full help here... (Renters can do this… He then talks readers through the whole process of how to check and challenge their council tax bands, with the different English and Scottish rules. Millions of households have seen a jump in their annual council tax bills from April 1 with most local authorities in England increasing a typical band D bill by 5% – an increase of £109 to £2,280 from the 2024-25 figure of £2,171 – although some local councils have permission to impose hikes of up to 10%. Bills in Wales rose by around 4.5% to 9.5% and in Scotland the jump was least 8% – though this is the first increase in two years following a freeze in 2024-25. Find out the council tax band for a home in England or Wales by looking up its address or postcode on the site. For homes in Scotland, search on the Scottish Assessors website. You can also use this service to challenge your council tax band if you think it's wrong. You'll need to provide evidence for your challenge. The amount of council tax you pay is set by the value of your home, with the average value home being placed in Band D. If you think your property is in the wrong band it might be worth requesting a revaluation, however, be aware there is a risk it could be placed into a higher band rather than a lower one. It is also worth speaking to the council about what support is available for those who are struggling or on lower incomes. Recommended reading Martin Lewis on the 'staggering' £70 Mastercard payout Martin Lewis asks for help to stop AI scam that costs viewer thousands The free 'small bag' that's 50 per cent larger than regulations, but Ryanair allows it See below the full list of medical conditions exempt from paying council tax. The following conditions are classed as Severe Mental Impairments: Although the above is a list of conditions that are classed as part of SMI, a person will need a doctor's diagnosis to be able to apply for the council tax discount.
North Wales Chronicle
10 hours ago
- North Wales Chronicle
Martin Lewis: How to cut council tax bills and get a rebate
On X, he said: "Moving or just moved house? One of the most important things you should do is check whether you're in the right council tax band. You only have six months to make a formal challenge, after that its much trickier. "(Renters can do this too, though courtesy would indicate you notify the landlord)." On his Money Saving Expert website, he posted: "Hundreds of thousands of homes across England and Scotland are thought to be in the wrong Council Tax band. This means it's important to check your property's in the right band – something our tried-and-tested system can help you do. Some homeowners and renters have unknowingly been overpaying Council Tax for many years, even decades, because their bands are too high, so payouts worth £1,000s are commonplace." Moving or just moved house? One of the most important things you should do is check whether you're in the right council tax band. You only have six months to make a formal challenge, after that its much trickier. Full help here... (Renters can do this… He then talks readers through the whole process of how to check and challenge their council tax bands, with the different English and Scottish rules. Millions of households have seen a jump in their annual council tax bills from April 1 with most local authorities in England increasing a typical band D bill by 5% – an increase of £109 to £2,280 from the 2024-25 figure of £2,171 – although some local councils have permission to impose hikes of up to 10%. Bills in Wales rose by around 4.5% to 9.5% and in Scotland the jump was least 8% – though this is the first increase in two years following a freeze in 2024-25. Find out the council tax band for a home in England or Wales by looking up its address or postcode on the site. For homes in Scotland, search on the Scottish Assessors website. You can also use this service to challenge your council tax band if you think it's wrong. You'll need to provide evidence for your challenge. The amount of council tax you pay is set by the value of your home, with the average value home being placed in Band D. If you think your property is in the wrong band it might be worth requesting a revaluation, however, be aware there is a risk it could be placed into a higher band rather than a lower one. It is also worth speaking to the council about what support is available for those who are struggling or on lower incomes. Recommended reading Martin Lewis on the 'staggering' £70 Mastercard payout Martin Lewis asks for help to stop AI scam that costs viewer thousands The free 'small bag' that's 50 per cent larger than regulations, but Ryanair allows it See below the full list of medical conditions exempt from paying council tax. The following conditions are classed as Severe Mental Impairments: Although the above is a list of conditions that are classed as part of SMI, a person will need a doctor's diagnosis to be able to apply for the council tax discount.
