The most recent report by the public spending watchdog on the Department for Work and Pensions (DWP) accounts has revealed that around 237,000 people over State Pension age have been underpaid a total of £1.46 billion. The underpayments average around £8,900 per person.
Jenny Holt, Managing Director, customer savings and investments at Standard Life explained that the people most likely to have been affected by these underpayments are those who reached State Pension age before April 2016, particularly if they didn’t have a full National Insurance record or full State Pension entitlement. She said: “If you fall into this category then there are steps you can take to find out how much you might be owed and make a claim.
“Even if you’re not affected directly by this issue, it’s still important to take the time to understand the State Pension, know what you’re entitled to, and whether it is being paid to you correctly. Having this knowledge will help you spot any potential errors and ensure you’re receiving the money you’re due.”
