Steve Webb: Why DWP is paying out £3bn to women after state pension errors

Averages £13,000 per person

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Steve Webb: "The root of the problem is the very traditional assumptions about women, which underlie the old state pension system."
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Steve Webb: "The root of the problem is the very traditional assumptions about women, which underlie the old state pension system."

The Department for Work and Pensions (DWP) is paying almost £3bn to 200,000 women who did not receive the proper state pension they were due. The former pensions minister Steve Webb explains how he helped bring the issue to light and the key points advisers should be aware of...

Advisers will be familiar with the complexity of the private pension system, but coming up fast on its heels for complexity is the state pension system, and particularly the ‘old' state pension system...

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