The body will be able to tell you whether it's worth you paying for extra qualifying years, as it may not be beneficial for everyone.It works out to be worth £15.85 a week which means it costs £824.20 to buy one year of contributions.A man living the typical 19 more years and a woman living 21 more years after they reach the state pension age of 66 can expect to get £5,300 and £5,800 respectively.
Speaking in the podcast, Martin said it will take just three years after getting your pension to break even. But of course, there are risks - if you happened to die before the three years are up then you will have wasted the money, the savings experts explained.
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