Pension experts warn that not understanding NI contributions can reduce retirement funds by £6,000, and a new tool helps users check if they can increase their state pension payments.

Pension experts warn that not understanding the importance of National Insurance (NI) contributions could reduce retirement funds by £6,000. To receive the full state pension, Brits need 35 years of NI contributions, and a new tool by HMRC and DWP allows users to check if they can increase their state pension payments by purchasing voluntary NI contributions. One full NI year can boost the new state pension by £303 annually.