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  5. We need urgent action to boost “stubbornly low” pension credit take up We need urgent action to boost “stubbornly low” pension credit take up

27 February 2020

We need urgent action to boost “stubbornly low” pension credit take up

3 min read

 
Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings

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Helen Morrissey, pension specialist at Royal London comments on data showing estimated take up of Pension Credit.

“Today’s data shows how timely the government’s campaign to boost Pension Credit is. For too long take up of this valuable benefit has remained stubbornly low at around 60%. Given that it acts as a valuable boost to the income of the poorest pensioners and acts as a gateway to other valuable benefits we need to see urgent action to increase take up and improve the lives of over 1 million pensioners.”

-ENDS-

Notes to editors

  1. Income Related Benefits: Estimates of Take Up can be found here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/867973/income-related-benefits-estimates-of-take-up-2017-2018.pdf

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London:

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £138.9 billion, 8.6 million policies in force and 4,126 employees. Figures quoted are as at 31 December 2019.