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Retirement expert Helen Morrissey is urging nearly one million people over State Pension age on a low income not to miss a crucial deadline to claim the £299 cost of living payment. New claims for Pension Credit made before the end of March 5, which later turn out to be successful, will also qualify for a backdated payment of the final round of cost of living support from the Department for Work and Pensions (DWP).

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.

Retirement may be a while off for some people or just around the corner for others, but pensions expert Helen Morrissey, is urging everyone to give some serious thought to deferring making a claim for State Pension, as it could boost their annual later-life income by more than £600.

The new year has started and for anyone planning to retire this year, whether they are reaching the official State Pension age, or leaving the workforce early, retirement expert Helen Morrissey has shared five key tips that are essential to ensure financial resilience in later life.

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 1.1 million living abroad and 992,052 in Scotland. Of that overall total, some 9.7 million people are receiving Basic State Pension payments of up to £156.20 each week, while 2.9 million are on - or due to claim - the New State Pension, which is worth up to £203.85 each week.

New figures published by the UK Government show that at the end of March, the number of people making voluntary National Insurance (NI) contributions to top-up missing or incomplete years on their State Pension surged by 85 per cent over the 2022/23 financial year.

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 1.1 million living abroad and 992,052 in Scotland. Of that overall total, some 9.7 million people are receiving Basic State Pension payments of up to £156.20 each week, while 2.9 million are on - or due to claim - the New State Pension, which is worth up to £203.85 each week.

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.

Retirement may be a while off for some people or just around the corner for others, but pensions expert Helen Morrissey, is urging everyone to give some serious thought to deferring making a claim for State Pension, as it could boost their annual later-life income by more than £600.

People aged over 66 have until the end of Friday, May 19 to qualify for the £301 cost of living payment if they make a new claim for Pension Credit which later turns out to be successful. The means-tested benefit is worth more than £3,500 each year on average and acts as a gateway to additional help for heating bills, housing costs and Council Tax discounts.

The latest release from the Department for Work and Pensions (DWP) into State Pension underpayment errors shows that between January 2021 and February 2023, the administration exercise identified 46,716 cases owed a total of £300.1 million. The previous update issued in November 2022 indicated that 31,817 underpayments had been identified and £209.3 million repaid to claimants.

State Pension payments are set to increase by 10.1 per cent from April for some 12.6million people across Great Britain, including 992,052 living in Scotland. However, despite a record-breaking rise in payments of the contributory benefit, it is estimated that around 1.8 million pensioners are receiving less than £100 per week in State Pension payments.

New figures released by the Department for Work and Pensions (DWP) show that at the end of August 2022, there were 1.4 million people receiving Pension Credit, representing a total of 1.6 million beneficiaries in total, including partners.

State Pension payments are set to increase by 10.1 per cent from April for merely 12.5 million people across Great Britain, including 992,052 living in Scotland. However, despite a record-breaking rise in payments of the contributory benefit, it is estimated that over 1.8 million pensioners are receiving less than £100 per week in State Pension payments.

The UK Government’s second review of the State Pension age is due to be published in May. The latest review into the official age at which someone can retire, now 66 for both men and women, launched at the start of last year and is considering whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence.

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.

State Pension payments are set to increase by 10.1 per cent from April for merely 12.5 million people across Great Britain, including 992,052 living in Scotland. However, despite a record-breaking rise in payments of the contributory benefit, over 1.8 million pensioners are receiving less than £100 per week in State Pension payments.

The beginning of a new year is the perfect opportunity for a fresh financial start, despite these challenging times of record-breaking inflation and soaring energy bills. The key to planning for the next 12 months is to be aware of notable financial events and add them to your calendar in advance so you know what to expect and when.

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.

State Pension payments are set to increase by 10.1% from next April for merely 12.5 million people across the UK, including 992,052 living in Scotland. However, despite a record-breaking rise in payments of the contributory benefit, over 1.8 million pensioners are receiving less than £100 per week in State Pension payments.

Chancellor Jeremy Hunt has announced that State Pension, Pension Credit and benefits will be uprated in line with inflation next year. Delivering his Autumn Statement to the House of Commons on Thursday, Mr Hunt confirmed an increase of 10.1% from next April at a cost of £11 billion for the UK Government.

The latest figures from the Department for Work and Pensions (DWP) show that in February 2022, nearly 12.5 millions people across the UK were receiving State Pension payments, including 1.1 million living abroad and 992,052 in Scotland.

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.

The latest figures from the Department for Work and Pensions (DWP) show that in February 2022, nearly 12.5 millions people across the UK were receiving State Pension payments, including 1.1 million living abroad and 992,052 in Scotland.

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.