14 June 2019

Government must take steps to boost pension credit take up as statistics show £3.5bn goes unclaimed

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Helen Morrissey, Personal Finance Specialist

Helen Morrissey

Personal Finance Specialist

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Commenting on today’s publication of estimates of Pension Credit take up, Royal London Pension Specialist Helen Morrissey, said:

“Today’s statistics show that only 60% of those entitled to Pensions Credit are actually claiming the benefit. This has been a long running issue that needs to be addressed by government sooner rather than later. As it currently stands up to 1.3m families are not claiming a benefit to which they are entitled with up to £3.5bn going unclaimed. This is a benefit aimed at the poorest of pensioners and steps must be taken to ensure they get the support they need.”

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Notes to editors:

Link to the statistics can be found here

For further information please contact:

Helen Morrissey, Personal Finance Specialist

About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June 2018.