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PensionBee Comments on Latest DWP Pension Credit Statistics
PensionBee, a leading online pension provider, has commented on the latest data from the Department for Work and Pensions, which reveals a 16% decrease in Pension Credit applications from the comparable period last year, whilst showing a 44% overall increase in the year following the initial announcement of Winter Fuel restrictions in 2024.
Lisa Picardo, Chief Business Officer UK at PensionBee, commented: “Today’s figures show that despite the expansion of the Winter Fuel Payment last summer delivering a clear boost to Pension Credit claims, momentum is already fading, with new claims down 16% so far compared to the equivalent period last year.
“With around 700,000 eligible pensioner households still missing out on support worth up to £4,000 a year according to the Work and Pensions Committee, the scale of the challenge is undeniable. Pension Credit is not only vital extra income for some of the most vulnerable older people, it is also a gateway to further help such as cost of living payments and winter fuel payments.
“Low take-up rates, which have hovered between 61% and 66% for over a decade according to the government’s own data, underline how urgently we need clearer communication, simpler claims processes and a joined-up national strategy to ensure every eligible household receives what they are entitled to. No one should face pensioner poverty because of an administrative barrier or lack of awareness”.
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