V

Viscount Younger of Leckie (Con)

Speaking in the House of Lords on 13 March 2025

Debate

National Insurance Pension Underpayments

Contribution

My Lords, recent statistics from the DWP demonstrate that 13 million people are receiving state pension payments. Saving adequately for retirement remains a challenge for many, particularly, as has been said, for single women and for those with gaps in employment, such as women taking time out to raise children and people suffering ill health. That is why the previous Government lowered the threshold for auto-enrolment to 18, with an opt-out, to enable retirement savings to commence earlier. As the Minister knows, the deadline of 5 April is fast approaching, before which people under the age of 73 can apply to buy back some of those lost years of contribution going back to 2006, and those benefits could make a huge difference to people’s lives. What is the level of uptake for this? Thinking about the warm words that the Minister gave about publicising DWP products, as it were, what more can she do to publicise this and make sure that the deadline is met?

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