Money Saving Expert says people aged 43 to 70 can turn £800 into £5,500

Martin Lewis' MoneySavingExpert.com (MSE) team is advising individuals between the ages of 43 and 70 to explore the potential of transforming £800 into a whopping £5,500 for their retirement.

The MSE specialists outline how to do this in their weekly newsletter. By purchasing additional National Insurance (NI) years one can significantly enhance their state pension because, according to the rules, you need to have 35 qualifying years of National Insurance Contributions (NICs) to secure the full state pension.

Those who had reached the state pension age before April 6, 2016 are eligible to claim the new state pension, currently valued at £221.20 a week. If you lack the necessary 35 years of NICs, you will receive less, reports the Mirror.

READ MORE: The six DWP legacy benefits that could be stopped unless claimants act now

A significant majority of Britons accumulate their National Insurance Credits throughout their employment years, with gaps typically due to periods away from work.

Luckily, any deficiencies in your record can be examined for free, and if detected, the missing years can be bought back going as far as 2006. However, time is ticking, with the deadline set for April 2025,

In their newsletter, MSE brings the exciting possibility to attention: "AGED 40 TO 73 AND NOT DUE A FULL STATE PENSION? Boost it by turning £800 into £5,500+ (free for some). To get the full state pension, you'll need 35ish (only 'ish', as it can be more for some) complete NI years - most get these through working or claiming benefits."

"If you've gaps in your NI record, check if you can fill them for free. If not, you can buy missing years from 2006 to 2016, which can be incredibly lucrative, though you'll need to do it before 5