Thousands of women could be owed money in a pensions loophole which the government has promised to pay back and it could lead to a big payout in the end for those affected
Women eligible for a state pension could receive up to £45,604 if they take advantage of a lesser-known loophole that the government has committed to reimbursing.
It is believed that thousands of women across the UK could be due substantial repayments for missed pension funds and might claim tens of thousands of pounds as a result. The details are intricate, but the financial benefits could be significant. Eligible women are those who reached state pension age before April 2016 with no basic state pension of their own and have husbands who turned 65 before March 17, 2008.If you belong to this category and receive less than 60 percent of your husband's state pension, you're entitled to an increase up to 60 percent of his amount, reports The Express.
The MoneySavingExpert website founded by Martin Lewis clarifies the process: "Under a little-known rule, women in this specific group are allowed to claim back underpaid pensions ALL the way back to when their husband started to draw his state pension . This is because they're deemed as having 'deferred' their pension rather than having been underpaid it, as they never had a basic state pension to begin with.
At the current rate, the married woman's pension stands at £93.60 per week, and claiming one year's worth from 2008 to 2021 would amount to £45,604. Claimants can opt to receive this sum as a lump payment or defer it to receive significantly higher pension payments for life.
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