Some Brits can buy £5,000 extra State Pension for £800 from the DWP, expert says
manchestereveningnews.co.ukBrits can buy themselves £5,000-worth of State Pension for just £800, according to an expert. Times are tough for more people than ever right now, and rises in the cost of living have left people worrying about how they will be able to afford essentials - especially when they retire.
But an expert says there's an easy way to get £5000-worth of State Pension for £800 - meaning a 587% return on investment. The expert says that by making voluntary National Insurance contributions, Brits could increase the value of their money by a staggering 587 per cent. READ MORE:Anyone on State Pension urged to claim 'as much free government money as possible' before April 5 The expert says few other “investments” can match that, although this isn't right for everybody, of course.
According to the Express, the new State Pension rises by just 3.1 percent on April 6, increasing it by £5.55 to £185.15 a week, assuming you get the full amount.
In real terms, that is a cut of £7.45 a week, or £388 a year, with inflation set to hit 7.25 percent. Those who retired before April 6, 2016, on the old State Pension will get a maximum £141.85, just £4.25 more.
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