More than one thousand individuals could be entitled to claim lost funds from a Government ‘goldmine’, recent data has brought to light.
The payments could vary significantly, ranging from a couple of pounds to thousands, yet, they risk being kept by officials should the public not act quickly. But there’s no need to panic – here’s how to know if you’re eligible.
It’s predominantly the relatives of now-deceased parents or spouses that could be due payment from the Government’s Department for Work and Pensions (DWP). This may be because their partner or relative received less than they were due in state pension while alive, with the cash now left to be claimed, according to the Financial Reporter.
A Freedom of Information (FOI) request by ex-pensions minister Steve Webb also suggests that a staggering 1,859 people have been sent letters flagging their eligibility during the past few months. Shockingly, there are currently 1,671 letters from the DWP on potential underpayments awaiting acknowledgement.
Another 131 letters also link to instances where a woman’s lower pension wasn’t rightfully boosted when her husband retired, while an additional 57 are connected to underpaid pensions for those aged 80 and above.
It’s said these letters typically arrive ‘out of the blue’ so, now more than ever, it’s vital to have a thorough check through your post to ensure you don’t miss out. Webb told the publication: “We know that well over 100,000 people were underpaid state pensions and DWP has spent more than three years trying to track them down.
“In thousands of cases, the person who was underpaid is sadly no longer with us, but their heirs should still benefit from any underpayment.”
If you do come across a letter from the DWP, it’s important to act on the information as soon as possible too. Any funds left unclaimed will be kept by the Government.
He added: “Although not all underpayments are large, in some cases people have received £100,000 or more, so the recipients of these letters could be sitting on a pensions goldmine.”
