Martin Lewis urges pensioners to check to see whether they’re missing out on thousands

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MARTIN LEWIS, the founder of Money Saving Expert, co-hosted The Martin Lewis Money Show alongside Angellica Bell on Thursday night. During the show, he said hundreds of thousands of women may be missing out on money via the state pension.

Martin Lewis regularly shares his money saving tips and financial insights with ITV viewers, and Thursday night was no different. During his show, the Money Saving Expert founder highlighted new findings that many people who have reached state pension age may actually be entitled to more than they are currently receiving.

He highlighted the matter during the show’s “Money news-you-can-use” segment.

“First of all, hundreds of thousands of married women may be missing out on thousands of pounds of the state pension. It’s basically for women aged 67 or older.

“If you know someone and they’re not watching – they should be – then do please spread the word about this.

“Crucially, they had to hit state pension age by the 6th of April 2016 and be married to a man – not same-sex, not civil partnerships.

“This is actually an antiquated rule coming back from the Second World War when – clearly the workplace was different between men and women – and [women]didn’t go to work as much.

“The rule basically said, if your state pension – a woman’s state pension – isn’t at least 60 percent of their husband’s pension, then it should be topped up to that level.

“Now, you can still ask if you haven’t got this which many haven’t and it will be backdated for at least a year.

“Since 2008 it should have been added automatically but a computer glitch means many weren’t and if you’re one of those – and that’s your husband got state pension from 2008 – then you can get it backdated for five or 10 years and it could be tens of thousands of pounds.

 

“This is actually an antiquated rule coming back from the Second World War when – clearly the workplace was different between men and women – and [women]didn’t go to work as much.

“The rule basically said, if your state pension – a woman’s state pension – isn’t at least 60 percent of their husband’s pension, then it should be topped up to that level.

“Now, you can still ask if you haven’t got this which many haven’t and it will be backdated for at least a year.

“Since 2008 it should have been added automatically but a computer glitch means many weren’t and if you’re one of those – and that’s your husband got state pension from 2008 – then you can get it backdated for five or 10 years and it could be tens of thousands of pounds.

 

“Look I know it’s complex,” he said. “It’s really a head’s up to go look into it.

“There’s lots more info online including a calculator at Lane Clark & Peacock pensions service.”

Last month, a report from Sir Steve Webb, partner at LCP, was published by pension consultants Lane Clark & Peacock, suggesting tens of thousands of older women may be entitled to a higher rate of state pension than they are currently receiving.

Commenting, former pensions minister Sir Steve, said: “It is truly shocking that thousands of women are being short-changed on their state pensions.

“The system is highly complex and few will be aware of the special rules for married women, widows, divorced women and the over 80s.

“Yet each of these groups seems to be losing out in different ways.

“Whilst DWP is willing to put things right on a case-by-case basis when individuals get in touch, there is clearly a systematic problem here.

“It is time for the DWP to take this issue seriously and launch a full investigation into how so many women have been missing out for so long”.

Last month, a DWP spokesperson said: “We are aware of a number of cases where individuals have been underpaid State Pension. We corrected our records and reimbursed those affected as soon as errors were identified.

“We are checking for further cases, and if any are found awards will also be reviewed and any arrears paid.”

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