New figures released by the Department for Work and Pensions (DWP) show that at the end of August 2022, there were 1.4 million people receiving Pension Credit, representing a total of 1.6 million beneficiaries in total, including partners.
Of the overall total, there are now 9.7 million older people receiving Basic State Pension payments of up to £141.85 per week (rising to £156.20 in April), compared to 2.9 million getting the New State Pension, which is worth up to £185.15 each week (rising to £203.85 in April).
However, despite those figures, pensions expert Helen Morrissey, head of retirement analysis at Hargreaves Lansdown estimates there are some 1.8 million older people receiving less than £100 per week from their State Pension. The DWP launched a new Pension Credit awareness campaign last April, which resulted in a 177 per cent take-up of the benefit by December 2022.
