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Tens of thousands face pension cuts? (Read 811 times)
Junior Member

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Tens of thousands face pension cuts?
Jun 30th, 2018, 1:38pm
I have just seen this story in the Daily Telegraph and The Times suggesting tens of thousands of people face cuts in their pensions because of historic Inland Revenue errors. I can't understand why the story is buried away when it affects so many people. The big question is "How many Beeb pensioners face cuts in their income?"
The story is here: https://www.pressreader.com/uk/the-daily-telegraph/20180630/281496457026082 Sad
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Re: Tens of thousands face pension cuts?
Reply #1 - Jun 30th, 2018, 2:06pm
"The errors affect those who 'contracted out' of a state pension top-up between 1978 and 1997".

A government spokesman said "Where overpayments of state pension do occur due to incorrect Guaranteed Minimum Pension figures (The opt-out scheme), individuals will not be expected to repay any overpayment".

Sir Steve Webb, a former Liberal Democrat pensions minister, said

"It would be totally unacceptable for pensions schemes to try to claw back hundreds or thousands of pounds from scheme members.

The whole system is eye-wateringly complex, and there is no way that members would have a clue if the figures were right or not".

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« Last Edit: Jun 30th, 2018, 3:55pm by Administrator »  

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