The DWP has published an update on the average amount of underpayments made to nearly 100,000 older women.
A retirement expert has warned that the State Pension underpayment corrections exercise is making progress, but warns it is “slow” with “a very long way to go”. Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said that new data from the Department for Work and Pensions shows that arrears payments have been made to nearly 100,000 women due to historical errors.
Ms Morrissey said: “Progress is being made to rectify the large-scale issue of State Pension underpayments, but it is very slow. Just over £571m has been returned so far but with estimates suggesting the scale of underpayments could be around £1.5bn there’s still a very long way to go. State Pension Underpayments LEAP exercise In 2020, the DWP became aware of a number of individuals who had not had their State Pension increased, in accordance with the law, automatically when this should have occurred. This prompted the Department to take action to investigate the extent of the problem.
Top Money Stories Today State Pension underpayment progress - February 2024 The number of cases reviewed, arrears identified and payments made between January 2021 and February 2024 are listed below.
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