Martin Lewis, the well-known personal finance expert, recently made significant waves on ITV’s popular daytime show, This Morning, delivering timely advice about energy tariffs and pension contributions. During these segments, he emphasized important strategies for energy customers to save money and maximize their investments.
On March 4, 2025, Lewis fielded questions from viewers and offered discreet but impactful tips. One of his standout pieces of advice was directed at Mandy, a single mother on Universal Credit, who expressed her concerns about being locked in to the lowest British Gas tariff until May 26, 2025. She faced exit fees if she wanted to switch providers before the contract's expiration. Lewis explained, "Now the first thing everybody needs to know, so note this down everyone, if you are on a fix, within the last 50 days of your fix - so... you are free to move and they cannot charge you early exit penalty." This rule allows customers to manage their energy deals more strategically.
Lewis reassured Mandy by telling her she likely held one of the cheaper rates since she locked it in last April. He cautioned her against switching too early, especially with rising prices. The energy price cap is set to increase by 6.4% on April 1, emphasizing the importance of holding onto favorable fixed energy deals.
The conversation about fixed tariffs continued on the same day when another viewer, Matt, sought advice on his energy situation. Lewis advised him to reconsider his resistance to smart meters, highlighting their benefits. He stated, "I would urge anyone on payment in receipt of bills, even if you don’t want... direct debit - to shift to variable direct debit if you can, which is the same price as normal direct debit but it works pretty much the same way as you have got." This advice caters to efforts to help customers save, especially considering the long-term advantages of smart meters.
Smart meters, according to Lewis, could provide users with more manageable and streamlined billing processes. Ofgem has noted their significance stating, "Nationally, smart meters are central to our shift to a cleaner, more flexible energy system." With these meters, consumers can record energy usage every 30 minutes, which may allow suppliers to offer tariffs based on actual usage rather than estimations, potentially lowering costs during cheaper energy periods.
Adding to his series of timely financial tips, Lewis did not shy away from discussing pension contributions during his show airing on the same day. He issued an urgent call-out for individuals over 40, encouraging them to improve their state pensions by potentially transforming £800 savings amounts to £5,000 by April.
Earlier, Lewis underscored the advantages of workplace pensions. He described them as "unbeatable" for increasing individuals' investment returns. “The most important thing to [remember] is the money you put... is from pre-tax salary... so when you get it... 20% is being taken off,” he explained. This multiplication effect can lead to substantial savings for both basic and higher-rate taxpayers.
For basic rate taxpayers, investing £100 costs only £80 due to tax relief; for those at 45%, it merely costs £55, marking workplace pensions as one of the best methods to boost retirement savings efficiently. "If you're putting in £80, you’re getting £160; double the money going to your investment," Lewis elaborated, emphasizing the compounded benefits available for those consistently contributing to their pensions.
Martin Lewis’s ability to demystify complex financial concepts makes his advice highly accessible to the broader audience. His appearances are not just informative; they illuminate the pathways toward substantial savings for viewers and offer practical steps to make informed financial choices.
While he provided weighty advice, Lewis did caution viewers about the uncertainty surrounding energy prices as events like the conflict in Ukraine could affect future pricing. "If there is peace... energy prices will be much lower then," he noted, indicating the fluidity of current market conditions. This caution underlines the importance of informed decision-making, particularly with costs linked to energy supplies continuing to shift.
Addressing various viewer inquiries, Lewis has encouraged them to pursue their financial interests with vigilance and resilience. His insights on fixed tariffs, smart meters, and workplace pensions are helping everyday consumers navigate uncertainty with more confidence.
For anyone pondering retirement or budgeting for their next energy bill, Martin’s messages ring clear: vigilance and informed choices are key to maximizing financial well-being. For those still uncertain, tuning in to his segments on platforms like ITV can furnish them with pertinent updates and practical guidance to get the most out of their financial situation.
With each segment, Martin Lewis continues to prove his worth as not just a financial advisor, but as a beacon of knowledge for those seeking to manage their finances more effectively amid challenging economic landscapes.