Tale of the state pension underpaid for 20 YEARS

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 1 March 2024

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

The debacle over widespread errors in the state pension that This is Money and Sir Steve Webb uncovered, continues.

As of the end of October last year, DWP had paid out just under half a billion pounds to more than 80,000 people who’ve been underpaid.

But what about those who have died? This week, Tanya Jefferies, Lee Boyce, Angharad Carrick and Georgie Frost reveal the case where a letter was sent to the daughter of an 100 year-old man three years after he passed away, stating he had been unpaid state pension for two decades.

Yet, despite the letter – months later, she was left hanging on what the DWP was actually going to do about it.

And still on the state pension front, people continue to complain of top-ups chaos as the Government gets ready to launch a new online service next month.

Sir Steve is calling on DWP and HMRC to get in more staff.

You don’t need HMRC to have more staff to answer your call, oh no! You just need to be a VIP.

Apparently there is a helpline, also known as Public Department 1 (PD1) which answers calls nine times quicker. We explain more.

On the savings front, the FCA is launching a campaign to encourage savers to shop around – and if you rushed to sign up for a one-year fixed-rate cash Isa this time in 2023, Lee explains why you must act.

Optional and mandatory service charges at hospitality venues – Georgie, Ang and Lee give their verdict.

And finally the price of bitcoin jumped beyond $60,000 this week. What’s behind the latest cryptocurrency surge?

Transcript

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0:00.0	Welcome to This Is Money podcast sponsored by Charles Stanley Direct.
0:06.5	I'm Georgie Frost and joining me and Lee Boyce today is Tanya Jeffries and Angharic.
0:11.5	And coming up, the state pensions underpayment saga continues.
0:15.5	HMRC taking an age to answer your call, it's probably because you aren't important enough.
0:26.7	Thanks for nothing, FCA. If you're fed up with insult savings accounts, well, it's on you to find a better one.
0:32.8	We explore your rights with mandatory tipping and Bitcoin surpassed his 60K.
0:34.1	What's behind the search?
0:36.5	Could it soon hit an all-time high?
0:40.2	Don't forget, you can stay up to date with all the latest breaking money news just to go to this ismoney.co.com.
0:41.1	or download the app.
0:44.5	Charles Stanley Direct.
0:46.8	Investing made easy.
0:49.4	Cost effective and flexible.
0:53.2	Using our website or app app with our comprehensive range of investments
0:59.0	trade in shares funds investment trusts and ETFs there's a range to suit all
1:05.6	levels of investor choose your own or consider our ready-made solutions.
1:12.1	Charles Stanley Direct.
1:13.5	Sign up now.
1:14.7	Investment involves risk.
1:19.1	But first, the debacle over the widespread errors in the state pension that this is money and Sir Steve Webb uncovered continues.
1:22.4	As of the end of October last year, DWP had paid out just under half a billion pounds to more than 80,000
1:29.4	people who'd been underpaid. But what about the rest? What about those who've died?
	...

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