The Money Saving Expert has told pensioners to consider investing just £31, and one viewer who took his advice saw their pension pot increase by thousands of pounds
Money Saving Expert Martin Lewis has urged state pensioners to consider a £31 investment that could significantly increase their Department for Work and Pensions payouts. He highlighted this tip on his show at 8pm.
Mr Lewis clarified the situation, saying: "So £31 would be a part-year payment. Each extra year of pension is worth £300 a year. If she lives 60 years into a pension, £31 would turn into £6,000 inflation-proof.
A qualifying year refers to a tax year during which you were either employed and made National Insurance contributions, received National Insurance credits or voluntarily contributed to National Insurance .
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