The Department for Work and Pensions (DWP) has forecast a payment of £3bn over the next six years to address underpayments of the state pension to women dating back two decades.
Published on Wednesday (3 March), the Office for Budget Responsibility Economic and Fiscal Outlook said the DWP had identified "underpayments of state pension relating to entitlements for certain married people, widows and over-80s back to 1992". It added: "Our forecast reflects an initial estimate that it will cost around £3bn over the six years to 2025/26 to address these underpayments, with costs peaking at £0.7bn in 2021/-22." In February 2020, LCP partner and former pensions minister Steve Webb tabled an FOI inquiry to DWP which revealed large numbers of women were getting state ...
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