Promising new figures suggest that more than one thousand lucky individuals can claim money from a ‘pension goldmine’, according to reports.
A Freedom of Information (FOI) request by ex-pensions minister Steve Webb has revealed that 1,859 people received word from the Government’s Department for Work and Pensions (DWP) just last month, flagging possible state pension shortfalls.
The news from Financial Reporter indicates that mainly relatives of now deceased parents or spouses who got less than their due in state pension while alive could now be in for some cash if they claim it.
These funds may range from just a couple of pounds to thousands, but will be kept by the Government if relatives do not write a reply to the DWP. As of now, a staggering 1,671 DWP letters regarding potential next of kin underpayments have not been responded to.
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.”
Now a partner at Lane Clark & Peacock, Webb is calling on everyone to watch out for these crucial letters, while claiming it’s important to act swiftly upon receipt.
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.”
