Martin Lewis warned people they could miss thousands, thanks to little-known retirement rule
In his Martin Lewis Money Show, Martin featured the story of a woman called Gill in her sixties
Gill had watched one of Martin’s shows during the lockdown when he spoke of married or widowed women over the age of 67 who may be running out of money owed to them
Gill’s husband Robin owned his own business and received a substantial public pension from his national insurance contributions
Gill had a basic state pension and when her husband died she thought her pension died with him, but Martin said that was not the case
She investigated with the Pensions Office and they told her that she had in fact been underpaid and in fact owed the whopping £ 82,000
Martin explained the rules again this evening and said: « This applies to women and widows who reached retirement age before April 6, 2016
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« Under the old system, the basic pension of women should be at least 60% of that of their husband, if this is not the case, they should increase it via a supplement
« The retro-dating depends on whether your husband turned 65 before March 17, 2008, if so you had to apply for a supplement and the maximum you can back-date is one year
« If they hadn’t, it should have been automatic, but the system had a problem meaning a lot of people didn’t figure it out, in this case you can do it going back many years, that’s why Gill got such a large sum «
Martin said this could be difficult to resolve, so he encouraged people to go online or contact the pensions office to see if they were entitled to a back payment and weren’t getting this at what they were entitled to
The Martin Lewis Money Show, Pension, State Pension
World News – UK – Martin Lewis explains how people could miss £ 82,000
SOURCE: https://www.w24news.com
