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Treasury Minister apologises over pension forecast delays

Nine-month backlog caused by lack of resources, says Allinson

The treasury minister admits it's a concern that requests for pension forecasts are taking more than six months to process.

Dr Alex Allinson says the backlog is caused by the significant number of requests being received and the lack of resources within Treasury to complete the work.

People waiting for their pension forecasts are being told the current waiting time has risen to nine months.

Pension forecasts are submitted by people approaching retirement to discover precisely how much they will receive. The calculation is made based on years worked and contributions made during their working lives.

For many it's an important part of financial planning after leaving full time employment.

The Treasury Minister says staff are trying to respond to requests as quickly as possible. 

He says that while it's a concern he's assured by the team that undertakes the work, that additional staff are being trained to deal with the requests and over the coming months the response time should reduce.

He's apologised to anyone who may be affected by the current delays. 

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