Women over State Pension age could be due up to £6,900 in back payments this year
At the start of this year, the Department for Work and Pensions said that it expects to complete the correction exercise into State Pension underpayments for two groups of women by the end of 2023. The Pensions Minister Laura Trott MP said the exercise for those on CAT BL and CAT D should be completed by the end of this year, but it could run through to late 2024.
The latest figures from DWP show that £209.3million in State Pension underpayments have been repaid to 31,817 pensioners since the correction exercise began in January 2021 and the end of October 2022. In the latest Local Authority Welfare bulletin, which offers updates and guidance to advisors, it states that when a State Pension underpayment is identified, DWP will contact the individual to inform them of the changes to their State Pension amount and of any arrears payment they will receive.
Pension Credit The guidance states: “Claimants who are receiving the guarantee credit element of Pension Credit will not be affected by the arrears payments if, once Pension Credit has been reassessed following the receipt of that payment, they remain entitled to Pension Credit.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Check State Pension forecast online for exact weekly payments and any gapsA deadline has been extended allowing people more time to boost their retirement pot.
Read more »
Women in Berlin allowed to go topless in swimming pools, says state governmentPeople who want to go swimming in the German capital will soon be permitted to do so without covering their torsos following a discrimination complaint.
Read more »
Qualtrics sold to Silver Lake and Canadian pension fundsSAP's in-and-out burger Qualtrics sold to Silver Lake and Canadian pension funds
Read more »
Jeremy Hunt to raise tax-free pension allowance in bid to discourage early retirement\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Budget to boost lifetime allowance for pension savingsIncreasing the allowance in Wednesday's Budget means workers could avoid paying more on their pension.
Read more »
Budget to boost lifetime allowance for pension savingsIncreasing the allowance in Wednesday's Budget means workers could avoid paying more on their pension.
Read more »