New claims for Pension Credit increase as more older people apply for £3,50 income boost

dailyrecord.co.uk:

New figures released by the Department for Work and Pensions (DWP) show that at the end of August 2022, there were 1.4 million people receiving Pension Credit, representing a total of 1.6 million beneficiaries in total, including partners.Of the overall total, there are now 9.7 million older people receiving Basic State Pension payments of up to £141.85 per week (rising to £156.20 in April), compared to 2.9 million getting the New State Pension, which is worth up to £185.15 each week (rising to £203.85 in April).However, despite those figures, pensions expert Helen Morrissey, head of retirement analysis at Hargreaves Lansdown estimates there are some 1.8 million older people receiving less than £100 per week from their State Pension.

The DWP launched a new Pension Credit awareness campaign last April, which resulted in a 177 per cent take-up of the benefit by December 2022.But the charity, Independent Age, is calling on the UK Government to release up to date figures showing how many people are “missing out on the Pension Credit they should be getting”.Morgan Vine, Head of Policy and Influencing at Independent Age, said: “The Pension Credit figures show a small increase in the number of people receiving the benefit.

This is unusual, reversing the usual trend, which likely reflects the difficulties people are facing in the cost-of-living crisis and is encouraging to see.“However, they don’t tell the full story.

For new recipients this extra money will have made a big difference but there is still a long way to go to get this vital benefit to everyone who is eligible.”Ms Vine continued: “The UK Government has still not provided up to date figures showing how many people are missing out on the Pension Credit they should be