Commenting on the latest quarterly Pension Credit uptake figures, Joanna Elson CBE, Chief Executive of Independent Age, said:
“Figures released today show that the number of people newly receiving Pension Credit increased significantly between February and May 2023.
“While it’s positive that nearly 39,000 older people started receiving Pension Credit during this period, sadly today’s figures are only a snapshot in time and do not show the scale of the problem and who is missing out.
“UK Government statistics released in October show that in 2021/22, Pension Credit uptake decreased from 66% to 63%, even though the Government carried out awareness raising activity during this time. This means that up to 880,000 eligible people were missing out and demonstrates the magnitude of this long-term challenge.
“It is deeply concerning that potentially hundreds of thousands of eligible people continue to miss out on this much needed money. Costs are still extremely high and causing misery for older people in financial hardship up and down the country. Yet many older people on desperately low incomes are not receiving the life changing sums of money they are owed. On average, Pension Credit is worth £3,500 per year and can be worth up to £8,000 in additional support such as Housing Benefit and the cost-of-living support payments linked to Pension Credit.
“To improve uptake rates and get money directly into the pockets of those that need it, it is clear that a more targeted and sustained approach is needed. The UK Government must introduce an uptake strategy that spells out how older people living in, or on the edge of poverty, will receive the financial support they are entitled to.”