Martin Lewis says people born in these years must 'act fast' to get £6,100 handout

Martin Lewis has issued a warning about changes to the Barclaycard minimum repayment rate
Martin Lewis has shared some information that could potentially be very useful -Credit:ITV

Martin Lewis, the money-saving expert, has highlighted that anyone born between certain years could be eligible for a £5,400 payout from the government. However, he warns that the deadline to claim is fast approaching and urges individuals to check their eligibility and make a claim as soon as possible.

The new state pension, introduced in 2016, applies to all men born after April 5, 1951, and women born after April 5, 1953. If you were born after these dates, you might be able to claim extra National Insurance years.

To 'buy back' any missing years from your record, you will need to spend a small amount of money. These years could be missing due to various reasons such as going abroad, not earning enough to qualify in a certain year (e.g. losing your job or taking maternity leave).

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You can buy back missed years as far back as 2006, but this opportunity is set to 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 the years back, reports the Express.

Each year costs a maximum of £824 to claim back, with varying amounts since 2006. However, you will receive about £329 back into your state pension per year, meaning you would be 'in profit' in less than three years.

Martin Lewis has revealed that men and women could potentially gain around £5,400 and £6,100 respectively if they live to an average life expectancy, with 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 bum to get to speak to someone on these lines, once they do, most say it's brilliantly helpful. Such as Tom: "A huge THANK YOU about the NI advice and phoning the pensions people. I was missing 9yrs.

"I phoned to be told all I needed to buy was 7yrs to qualify me for an extra £40/wk [so £2,000/yr]. If I hadn't phoned, I'd probably have paid the full £7,500 and lost about £1,800. I'm now looking forward to receiving the full pension."