One million pension savers to get £70 refund letter – what to do if you get one

Nearly one million people are set to receive an unexpected letter from HMRC telling them they could be owed money.

The typical payment will be around £70, although the amount will vary depending on individual circumstances.

The letters are going out to people who saved into workplace pensions but are on low incomes. They missed out on pension tax relief because of the way their scheme was run.

HMRC is sending the letters out gradually over the next few months, but experts are concerned that many people might ignore them, assuming they are a scam – meaning millions of pounds could go unclaimed.

Shorts