The Government has corrected its initial guidance on underpaid State Pensions after a number of errors were spotted.

Pension savers over the age of 55 are unintentionally triggering the Money Purchase Annual Allowance by tapping into their pension savings to tide them over with the growing cost of living, according to a new report.

Former Pensions Minister Sir Steve Webb, now a partner at pensions consultancy LCP, has urged the Department for Work and Pensions to ‘come clean’ over the scale and nature of a new round of state pension errors.

The Department for Work and Pensions (DWP) has shared six previously unrevealed errors in State Pension payments it has had to act to correct since 2007.