Pension News Pension Credit Misses Two Million People 2998155

Pension credit misses two million people

08 June 2004
Nearly two million pensioners are missing out on the Pension Credit they are entitled to.

Government figures out yesterday showed that the Pension Credit is only reaching 3.03 million individuals – nearly 2 million short of the 4.9 million eligible to receive the money in 2003-04.

Despite months of costly advertising the message would appear not to be getting through.

The Liberal Democrat Shadow Work and Pensions Secretary, Steve Webb said: “It is simply shocking that the Government’s eye-wateringly complex Pension Credit is failing to reach nearly 2 million people.”

He hinted that this cash simply never reaches its intended recipients: “As every month goes by pensioners are missing out on money they are entitled to. It’s likely that many will never receive the much needed extra cash.”

He concluded by saying pension increases were required: “The only guaranteed way to get extra money to the poorest pensioners is by boosting the inadequate state pension.”

The government have guaranteed that coming years will see an increase in the pensions credit.

By 2006 they want to see at least 3 million households benefiting from the pension credit. It is estimated that this corresponds to around 3.7 million individuals.

Written by Editorial Team