News
February 2005
3 million benefit from Pension Credit
A total of 2.65 million pensioner households (3.22 million individuals) currently receive Pension Credit, figures released by the Department for Work and Pensions show. This includes pensioners getting Pension Credit guarantee awards as well as those being rewarded for their savings.
Pension Credit guarantee tops up pensioners’ income to the guaranteed level of £105 a week. This will rise to £109 in April this year.
Initial estimates suggest that over 80% of the poorest pensioners – 2.08 million pensioner households (or 2.46 million individuals) out of an estimated 2.35 million households eligible for Pension Credit guarantee awards – currently receive the awards.
The new figures also indicate that as many as 90% of single women pensioners who may be eligible for the guarantee element of Pension Credit are already receiving their entitlement.
Secretary of State for Work and Pensions, Alan Johnson, said:
“The next stage is to concentrate effort on increasing take-up among those in harder to reach groups – especially those who have never been entitled to extra help before. We have a number of initiatives to ensure the message gets out to all those who need to hear it.”
He added that a twelve month backdating provision means that new claimants could receive a lump sum payment averaging around £1,000.
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