Martin Lewis’ pension credit tip to add thousands to state pension

Martin Lewis, founder of Money Saving Expert, has warned that millions of people could miss “thousands of extra pounds” on their state pension.

Speaking on last night’s (January 20) episode of The Martin Lewis Money Show on ITV, the financial wizard gave viewers advice on how to give their state pension a boost additional.

National Insurance credits, he said, could be worth thousands of dollars for some people, pointing out that a number of groups could be eligible for the extra money.

READ MORE: Martin Lewis urgently warns every driver in the UK to carry out an immediate check

What are National Insurance Credits – and how do they affect my state pension?

On Thursday night’s Martin Lewis Money Show on ITV, Martin Lewis explained that people can boost their NI credits – and therefore their state pension – by claiming certain benefits.

As The Express reports, you need a total of 10 years of National Insurance contributions before you can claim a state pension. NI dues are usually earned by working, but claiming certain benefits can also help earn NI credits.

By claiming these benefits, you could build up your NI record – and therefore end up with a more generous state pension later on.

“The more there are [NI credits] you have, the more your state pension increases towards a maximum, and a lot of people are absent,” Martin explained.

“If you max out your state pension, it could net you thousands of extra pounds.”

He pointed out that carers caring for people on state benefits could be eligible for a carer’s credit or a carer’s allowance for those who provide more than 35 hours of care a week.

Specific adult child care credits — available to people providing unpaid care to a parent child — could also help applicants rack up more NI credits, he added.

Martin Lewis also noted that it’s worth applying for Child Benefit – even for those who don’t qualify – as a way to rack up NI credits.

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