DWP says many pensioners could be missing out on | U.Ok.Finance News
New information from the Department for Work and Pensions (DWP) exhibits one in 10 Pension Credit claimants are failing to obtain their portion of an estimated £100 million resulting from not supplying the Department with exact particulars.Retirement knowledgeable Just Group is urging these claiming Pension Credit – the principle benefit designed to help people over State Pension age on a low income – to make sure the accuracy of the data they submit. This advice follows the DWP’s estimation that claimants throughout England, Scotland, and Wales are missing out on roughly £100 million annually, translating to about £700 per family, as reported by the Daily Record.Stephen Lowe, group communications director at Just Group, revealed: “About 10 per cent of claimants did not get their full entitlement in 2024/25 compared to 8 per cent the previous years. The amount being underclaimed was also higher at £100 million compared to £80 million previously.”He additional famous: “There are about 1.4 million claimants overall, suggesting 140,000 households missed out on an average of about £700, which is a significant sum for those struggling on low incomes.”Lowe clarified that the DWP attributed these underpayments to claimants’ failure to supply correct or present data, primarily in three key areas:
Mr Lowe added: “It’s important to understand what changes in circumstances can impact the amount of benefit being paid because the system relies on accurate information. Of course, a far bigger issue is that of people failing to claim at all.”Highlighting the hole in benefit uptake, he revealed: “Pension Credit is a good example. Only 65 per cent of those eligible received it in 2022/23 with about 760,000 households missing out on an average of £1,900 a year or £1.5bn in total.”He inspired these receiving advantages to make sure they keep their particulars up up to now and to review often the data they’ve given.Despite this, he additionally issued a warning relating to the risks of overclaiming, saying: “You could be eligible for more, but you also must guard against accidentally overclaiming and then having to repay the money later which can cause serious hardship.”The DWP has reported that within the final 12 months, 77 per cent of all contemporary Pension Credit purposes have been processed within their goal of 50 working days from submission to receiving a determination letter. Pensions Minister Torsten Bell mentioned: “The current mean processing time stands at 52.8 working days,” which interprets to simply past 10 weeks.For these seniors making use of afresh on a restricted income, there may be an expectation that their first cost together with any retrospective money ought to arrive by July’s finish, particularly in the event that they no longer qualify for this 12 months’s annual Winter Fuel Payment.Elderly people who efficiently apply for Pension Credit earlier than September will qualify for the 2025/26 Winter Fuel Payment.There’s a common false impression amongst some aged people that proudly owning their home or having financial savings disqualifies them from this means-tested benefit. However, even a modest grant of simply £1 per week can unlock extra help, together with help with housing prices, heating payments and Council Tax.Who is eligible for Pension Credit?Pension Credit is available in two components – Guarantee Credit and Savings Credit.To qualify for Guarantee Pension Credit, you could have reached State Pension age, which is presently 66. Your weekly income additionally must be beneath the minimal quantity the UK Government considers essential for dwelling.This stands at £227.10 for a single individual and £346.60 for a couple. These figures could be greater should you’re disabled, a carer or have sure housing prices.Savings Credit is just accessible should you reached State Pension age earlier than April 6, 2016, or when you have a associate who reached State Pension age earlier than this date and was already receiving it.How to find out eligibility for Pension CreditElderly people, or their family and friends, can shortly examine eligibility and get an estimate of potential advantages utilizing the online Pension Credit calculator on GOV.UK right here.Alternatively, pensioners can contact the Pension Credit helpline on to make a declare on 0800 99 1234 – strains are open from 8am to 6pm, Monday to Friday.More particulars about claiming Pension Credit can be discovered on GOV.UK right here.
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