The number of pension credit claimants has dropped to 1.8 million as of August 2017, according to the latest statistics from the Department for Work and Pensions.
This figures rises to 2.1 million including partners, but it is a drop of 120,000 from the previous year. In addition, nearly two thirds of recipients (63 per cent) were women. The DWP said the number of people on pension credit has been decreasing since November 2009, which it said was partially due to equalisation of state pension age, and the introduction of the new state pension introduced in April 2016.
Commenting Just Group director Stephen Lowe said: “While the continuing trend for fewer Pension Credit claimants can largely be explained by state pension reform, our research shows there is a significant number of retired homeowners who are not receiving all the benefits they are entitled to.
"Just Group research shows four in 10 pensioner homeowners who are eligible for benefits do not claim any additional State support and a further two in 10 are not receiving their full entitlement. The average loss of income for each household missing out stands at £1,013 a year, while the largest amount of benefit lost was £7,142 a year for a 64 year-old in Norfolk.
“For these people every pound of income counts, yet our research among home owner pensioner households indicates that they are missing out on thousands of pounds each year – money that would make a massive difference to people’s lives.”
