You are here: Home - Retirement - Retiring now - News -

State finally pays £132,000 it owes to retiree

0
Written by:
07/08/2019
A pensioner who thought he would have to release equity from his home after running low on cash has been awarded £132,800 after a chance conversation with an adviser.

Peter Williams, 76, from Cardiff assumed he was not entitled to a state pension after he filled out the forms when he retired but heard nothing back from the government.

When he approached equity release company Responsible Life about releasing cash from his property, his adviser discovered Peter had missed out on a staggering 11 years of state pension payments.

The adviser, Graeme Donegani, called the state pension claim line and was told Peter was owed £132,800 for all the unclaimed years. He was also entitled to £274 a week.

Peter had been surviving on two workplace pensions, worth £243 and £275 a month respectively for more than a decade and had been forced to stop going to his local pub and going on holiday.

Steve Wilkie, managing director of Responsible Life, said: “It’s no exaggeration to say this money will change Peter’s life. It just goes to show all retirees need to make sure what their entitlements are, and if you make enquiries with the tax office no news isn’t necessarily bad news.”

Peter said: “Words cannot describe the elation I feel. Graeme’s open-handed approach to my situation has changed my life and provided me with a very positive future.

“I no longer need to release equity in my property and will be able to live comfortably on my pensions.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

State Pension claimants fall by 120,000 as increase in pension age bites

Changes to the State Pension age are saving the government an estimated £18.5m a week.
State Pension claimants fall by 120,000 as increase in pension age bites

Warning for people who make small withdrawals from their pension

People who withdraw small amounts of cash from the “wrong” pension risk unwittingly slashing the amount they c...
Warning for people who make small withdrawals from their pension

Number of savings accounts beating inflation tumbles

Savers have been urged to review the rates on savings accounts after a rise in inflation.
Number of savings accounts beating inflation tumbles

Ryanair jetting towards US flights for £10

Ryanair is on course to achieve its long-held ambition of offering transatlantic flights to the US – and the...

Investing in car parks: a good vehicle for income seekers?

As the search for income continues, many investors are turning to alternatives, with car parks becoming increa...

A quick guide to guarantor loans – in association with Guarantor Loan Comparison

Considering a guarantor loan or becoming a guarantor yourself? Read our essential guide...

Results round-up: Companies to watch this week

Mulberry and more will face the music this week.

Product launches of the week

Select Property Group, Schroders, Leeds Building Society and more have exciting news this week.

Money Tips of the Week

Read previous post:
old people
Empty nests a thing of the past

Getting the kids to move out of the family home is harder than ever before, according to the Office for...

Close