The UK government is to distribute up to £1bn to 134,000 people after underpaying their state pension over the course of several decades with 90% of those affected being women. Out of 134,000 cases, about 94,000 are still alive and some 40,000 have died and payments could be made to estates. The data was released as part of a National Audit Office (NAO) report on the scandal. The report found the biggest error was an underpayment of £128,000, it added errors go back as far as 1985. About one in eight arrears payments so far is for £40,000 or more. The Department for Work and Pensio...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes