Martin Lewis issues £10,000 warning over HMRC delay

The BBC and ITV star said the longer period to backdate National Insurance contribution top-ups for a state pension boost was to give time for an online system to be built for everyone.

Martin Lewis has issued a £10,000 warning over a HMRC tool delay - and said: "It's now not happening." The BBC and ITV star said the longer period to backdate National Insurance contribution top-ups for a state pension boost was to give time for an online system to be built for everyone.

Mr Lewis warned: “This is your 6mth warning! For each £825 or less you pay to buy National Insurance years, many gain £5,400+, but much closes in April. It's the MOST LUCRATIVE thing many under age 73 can do, some gain £10,000s. The process ain't quick, so check it now…”

A person looking to receive their full State Pension will need to have roughly 35 qualifying National Insurance (NI) years. Some may not have this many years for reasons including years spent living abroad, being on low incomes, taking a career break or not claiming credits.

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Mr Lewis reassures those who don’t have enough years that “transitional arrangements let you buy back years to 2006” rather than just the usual backdated six years in previous rules. He explained that the longer period to backdate was due to end in April 2023, but the deadline was twice extended, "as very heavy demand left phone lines jammed."

However, he warned: "Now that's not happening. Some can do it online, but HM Revenue & Customs admits its online tool won't work for all. Therefore, the over-demand phone risk is back in the deadline run-up, hence this early warning."

A person can add more qualifying years by making voluntary contributions. However, it should be noted that, while purchasing missing National Insurance years to plug gaps may be beneficial for some people, it may not be for others.

People can see if they’d benefit by checking their National Insurance record and state pension forecast on the GOV.UK website.