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The Department for Work and Pensions (DWP) has published a new update on progress of the State Pension Underpayments Legal Entitlements and Administrative Practice (LEAP) exercise. The new figures published last month show that 97,016 people over State Pension age - mostly women - have received back payments averaging £2,192, £5,713 and £12,486, depending on their pension category.

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 (DWP) shows that arrears payments have been made to nearly 100,000 women due to historical errors.

The Uk Government has announced further details on its plans to ensure parents and carers are able to claim National Insurance (NI) credits for years where they have not claimed Child Benefit. This will help more people to fill gaps in their National Insurance record to claim more State Pension in retirement.

The Triple Lock will determine the level of uprating to be applied to the State Pension for the 2024/25 financial year and pays the highest between September’s Consumer Price Index (CPI) inflation rate, earnings growth, or 2.5 per cent.

New analysis by Standard Life, part of Phoenix Group, has calculated that people who want to achieve a minimum living standard in retirement, which includes enough for the basics and one week’s holiday in the UK a year but no car, require an annual income of £12,800.

People are being warned they could end up paying more tax in 2023 once the new financial year begins on April 6. Sarah Coles, senior personal finance analyst at Hargreaves Lansdown, said frozen thresholds and cuts to tax breaks are among the pressures people should be aware of this year.

People aged over-50 are facing a lifetime of financial insecurity after a recent report highlighted which age group is being hit the hardest by the cost of living crisis. Research from Edinburgh University’s Smart Data Foundry found economic inactivity rates have risen by a third for the over-50s age group since 2019.

New research suggests that less than half (41%) of people could cope in retirement if they did not receive a share of their partner’s pension. The survey, carried out by Opinium on behalf of pensions experts, Hargreaves Lansdown, found that this figure drops to around a quarter (26%) of women while over half (54%) of men said they could cope.

New figures from the Department for Work and Pensions (DWP) show that £209.3 million 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.

New research conducted by Opinium on behalf of pensions experts, Hargreaves Lansdown, found that only 38 per cent of people have kept expression of wish forms for all their pensions up to date. Over a quarter (26%) said they had not, 13 per cent were unsure and worryingly, some 24 per cent of the 2,000 people surveyed in September said they didn’t know what an expression of wish form was.

New figures from the Pensions Policy Institute (PPI) suggest that an estimated £26.6 billion is sitting in unclaimed, dormant, or lost pension plans by some 2.8 million people across the UK. However, as part of Pension Awareness Week, Hargreaves Lansdown has shared how people can track down pension pots to boost their retirement income.

People aged over-50 are facing a lifetime of financial insecurity as a report reveals which age group is being hit the hardest by the cost of living crisis. Research from Edinburgh University’s Smart Data Foundry found economic inactivity rates have risen by a third for the over-50s age group since 2019.

New figures released by the UK Government show that up to 850,000 families who were entitled to receive Pension Credit did not claim the benefit in the financial year 2019 to 2020.

New data from the Office for National Statistics (ONS) shows that around eight in 10 eligible employees had a workplace pension in April last year despite the tough economy.

Planning for your retirement can never start too early, especially after the UK workforce experienced an unprecedented period of uncertainty during 18-months of lockdown which resulted in a staggering 11.7 million employees put on furlough.

Nestle has issued a warning to consumers that more price rises could come into effect in a bid to tackle cost inflation. The KitKat and Shreddies maker had already increased prices by more than 5 per cent over the first three months of 2022 and may see further hikes

State Pension payments have risen by 3.1% in line with the Consumer Price Index rate of inflation in September 2021, instead of the 8% boost that would have happened if the Triple Lock policy had not been suspended due to the increase in earnings, which was deemed to be unfairly inflated by the coronavirus pandemic.

New figures released by the UK Government show that up to 850,000 families who were entitled to receive Pension Credit did not claim the benefit in the financial year 2019 to 2020.

Managing your money might require a rethink in retirement, particularly as your savings may need to stretch over decades now that people are living longer.

UK Government is being urged to "bring clarity" soon on the future of the State Pension triple lock after reports suggested that a decision on the rule, which is used to uprate pensions, is to be made this week. Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown, said: "Any decision needs to take account of the needs of both pensioners and taxpayers.