28 November 2024
If you are covering the latest DWP Pension Credit applications and awards statistics, please see the following comment from Rosie Hooper, chartered financial planner at Quilter Cheviot:
“Data from the Department for Work and Pensions (DWP) out today reveal the government has seen a whopping 145% surge in pension credit claims since the Chancellor announced the winter fuel payment would be made only to those on low incomes who received certain benefits such as pension credit as of this year.
“Since 1 April 2024, the DWP received 215,200 Pension Credit Claims, 150,000 of which came following the Chancellor’s announcement. The DWP has cleared through roughly three quarters of them. However, of the 161,800 claims it has cleared, just half have been awarded - 81,000 were granted, while 81,500 were turned down.
“Freedom of Information (FOI) data we recently obtained from the DWP revealed that since the Chancellor’s announcement, the DWP has spent a total of just £253,954.92 on advertising spend related to pension credit in a bid to increase take up.
“While it is understandable that the government aims to maintain the savings from cutting the winter fuel payment, it is surprising that only £250,000 has been allocated to the pension credit advertising campaign, given the importance of reaching those in need. This amount represents just 0.018% of the £1.4 billion saved by cutting the winter fuel payment. Although it is positive that more people are applying for pension credit, many are still missing out.
"The last date for making a backdated claim for pension credit to receive the winter fuel payment is now less than a month away, so it is vitally important that pensioners on low incomes check their eligibility. Anyone who thinks they may be eligible, or anyone with relatives or loved ones over the state pension age who they believe may be entitled, should check the criteria and ensure their application is submitted before 21 December.
“Those who are eligible would not only benefit by regaining the winter fuel payment, worth either £200 or £300 depending on age, but they would also receive pension credit to top up their income.
“Pension credit guarantees a weekly income of £218.15 if you’re single or £332.95 if you have a partner. It also unlocks a variety of other benefits that can help with housing costs, council tax, and heating bills.
"If you are unsure about your eligibility, an online pension credit calculator can provide an estimate of potential benefits. Applying is simple and can be done online, by printing and completing a paper form, or by calling 0800 99 1234."
