Why married women should check their state pension record
Married women could be owed an estimated £100 million in underpayments in their state pension by the Department of Work and Pensions (DWP). Many have already received pay-outs, with an average shortfall of £9,000 refunded. Pensions consultancy, LCP first raised the issue of state pension underpayment for married women in May 2020. But some have […]
Married women could be owed an estimated £100 million in underpayments in their state pension by the Department of Work and Pensions (DWP). Many have already received pay-outs, with an average shortfall of £9,000 refunded.
Pensions consultancy, LCP first raised the issue of state pension underpayment for married women in May 2020.
But some have received as much as £30,000 from the DWP. The huge shortfall has occurred because DWP only checked their records for women who got married after March 2008. With efficient back office systems for IFAs this incident was avoidable. Previously, the old state pension system permitted married women to claim 60% of the basic state pension. This was calculated on contributions made by their husband, if this was larger than a pension calculated on their own contributions.
This improved rate should have been applied automatically, as would happen with back office systems for IFAs, and was due to come into effect from 27th March 2008. But this uplift required women married before this date to proactively contact the DWP to ask for the increase once their husband reached the age of 65. The ...
Married women could be owed an estimated £100 million in underpayments in their state pension by the Department of Work and Pensions (DWP). Many have already received pay-outs, with an average shortfall of £9,000 refunded.
Pensions consultancy, LCP first raised the issue of state pension underpayment for married women in May 2020.
But some have received as much as £30,000 from the DWP. The huge shortfall has occurred because DWP only checked their records for women who got married after March 2008. With efficient back office systems for IFAs this incident was avoidable. Previously, the old state pension system permitted married women to claim 60% of the basic state pension. This was calculated on contributions made by their husband, if this was larger than a pension calculated on their own contributions.
This improved rate should have been applied automatically, as would happen with back office systems for IFAs, and was due to come into effect from 27th March 2008. But this uplift required women married before this date to proactively contact the DWP to ask for the increase once their husband reached the age of 65. The ...
Fuente de la noticia:
Postres Con Chocolate
URL de la Fuente:
http://postresconchocolate.com/
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