Government admits it has got its state pension sums wrong

Approximately 360,000 people have been given incorrect forecasts of their state pension benefits, the government has confirmed.

Approximately 360,000 people have been given incorrect forecasts of their state pension benefits, the government has confirmed.

Some 3% of all online forecasts issued to savers since 2016 are incorrect, the Department for Work and Pensions (DWP) says, often overstating what people are entitled to by £1,000 a year.

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.