Former DWP minister warns Waspi women likely to get ‘tiny compensation’ for State Pension age change

The UK Government recently announced that people now have until the end of July to plug any gaps in their National Insurance record which will in turn boost their State Pension payments when they reach the official retirement age. The April 5 deadline was extended until July 31 after phone lines to the Future Pension Centre became jammed as people rushed to buy missing years.

The Department for Work and Pensions (DWP) has been accused of “incompetence” and sending out incorrect information about the State Pension age by Labour’s Andrew Gwynne. The Denton and Reddish MP called for justice for women born in the 1950s who have been affected by changes to their State Pension age.

A wide variety of DWP benefit payments will be increasing soon.

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The Secretary of State for Work and Pensions has confirmed that a review of the State Pension age is “under way”. Mel Stride MP told the House of Commons that he will consider a wide range of evidence, including two independent reports, to assess whether the “rules on pensionable age remain appropriate”.

A string of financial changes will soon be implemented across the UK as we approach the new tax year.

A new online petition is calling for an increase to the Basic State Pension weekly payment rate so that it matches the New State Pension. The latest figures from the Department for Work and Pensions (DWP) show there are now 12.6 million people across Great Britain receiving State Pension payments, including more than 992,000 living in Scotland.

An estimated 19.2 million families and 39.8 million individuals across Great Britain currently in receipt of State Pension or benefits from the Department for Work and Pensions (DWP) and HM Revenue and Customs (HMRC) will see their payments go up by 10.1 per cent next month. However, due to payments made in arrears most people will not see a difference until May.

The latest figures from Social Security Scotland show that at the end of February, 2022 there were 124,081 people living in Scotland receiving additional financial support through Attendance Allowance. Across Great Britain, there are now more than 1.5 million people over State Pension age getting either £61.85 or £92.40 each week through the benefit.

The UK Government has announced delays to a planned timetable which will eventually allow people to view all their pension pots, including State Pension, online in one place. The Department for Work and Pensions (DWP) said that more time is needed for the complex build of pensions dashboards to be set up.

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The Department for Work and Pensions (DWP) has been urged to do more to clarify when people can expect to retire and receive their state pension.

Martin Lewis has said that thousands of people in the UK are owed a £6,000 payment after a DWP error. The Money Saving Expert founder issued advice in a special episode of his ITV programme dedicated to all things pensions.

The latest figures from Social Security Scotland show that at the end of February, 2022 there were 124,081 people living in Scotland receiving additional financial support through Attendance Allowance. Across Great Britain, there are now more than 1.5 million people over State Pension age getting either £61.85 or £92.40 each week through the benefit.

The latest statistics from the Department for Work and Pensions (DWP) show that by the end of October, there were more than three million people across the UK claiming Personal Independence Payment (PIP), including 329,334 living in Scotland. The figures also show that nearly half a million people of State Pension age are also in receipt of PIP.

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A pensions deadline is approaching that could cost anyone between the ages of 45 and 70 thousands of pounds if missed, Martin Lewis has warned. The money saving expert issued the plea on the Martin Lewis Podcast, after missing his regular ITV slot due to family commitments.

Basic and New State Pension payments will soon increase by 10.1 per cent for some 12.6 million older people across the country, including around one million living in Scotland. The honouring of the Triple Lock rule means that older people are set for an income boost of up to £75 per month from April.

New research from Standard Life suggests that one in seven (14%) retirees received less money from their State Pension than they were expecting, indicating a possible need for more accessible information on how the contributory benefit is calculated - in advance of reaching retirement age.