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HMRC 'Sorry' as It Fixes Huge State Pension Error Affecting Nearly 1 Million People
The Chancellor confirmed state pensioners with no other income will not pay tax as the full state pension nears the personal allowance, while HMRC corrects a forecasting error affecting 800,000 people.
- On February 13, HMRC updated its online Check your State Pension service and apologised after a probe revealed errors, aiming to improve forecast accuracy.
- The tool, launched a decade ago, contained a fault left unfixed for nine years and ministers were first told in 2017, with The Telegraph warning 800,000 users may have received too-high forecasts.
- The tool omitted contracted-out year deductions and HMRC said affected customers could top up missing years with lump sum £907 per missing year; an earlier fix covered those reaching state pension age before April 2029.
- Officials warned the fault could leave people retiring on lower pensions, but the government emphasised `in this Parliament, they won't have to pay the tax`.
- State pension rates will rise from April under the triple lock, with the full State Pension nearing the personal allowance £12,570 and qualification requiring 35 complete years worth £230.25 weekly.
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The Herald Scotland+12 Reposted by 12 other sources
HMRC 'sorry' as it fixes huge state pension error affecting nearly 1 million people
HMRC has apologised after a major error with its state pension forecast tool has finally been fixed.
·Scotland, United Kingdom
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State pension error fixed as HMRC says 'sorry' to 800,000 Britons at risk of payment shortfall
A major state pension payment error impacting 800,000 Britons has been fixed with HM Revenue and Customs (HMRC) saying "sorry" to those who received inaccurate forecasts, which analysts claim could have led to a retirement savings shortfall.Yesterday, the UK tax authority rectified a long-standing flaw in its online state pension forecast tool that had persisted for nine years, following an investigation into the service.It is understood that as…
·London, United Kingdom
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Coverage Details
Total News Sources15
Leaning Left2Leaning Right1Center10Last UpdatedBias Distribution77% Center
Bias Distribution
- 77% of the sources are Center
77% Center
15%
C 77%
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