Pensioners: Income

(asked on 12th September 2024) - View Source

Question to the Department for Work and Pensions:

To ask His Majesty's Government how many pensioners in the UK have annual incomes below £15,000, and of those how many are in receipt of pension credit.


Answered by
Baroness Sherlock Portrait
Baroness Sherlock
Parliamentary Under-Secretary (Department for Work and Pensions)
This question was answered on 26th September 2024

For financial year 2022/23, we estimate that the number of pensioner units with gross annual income below £15,000 is approximately 1.6 million. Of those, we estimate 0.3 million are in receipt of Pension Credit.

This estimate is based on Pensioners’ Incomes and Households Below Average Income data derived from the Family Resources Survey and covers private households in the United Kingdom. Income is calculated as total income of the pensioner unit, including benefits such as State Pension and Pension Credit, occupational and personal pensions, investment income and earnings.

A pensioner unit can be a single pensioner over State Pension age, a pensioner couple where one member is over State Pension age, or a pensioner couple where both members are over State Pension age.

We want all eligible pensioners to apply for Pension Credit and so the Department is continuing to maximise opportunities to promote Pension Credit.

Like all means-tested benefits, a person’s eligibility for Pension Credit and the amount they may get depends on their specific financial and personal circumstances. Full eligibility criteria are available on gov.uk at the following link: Pension Credit: Eligibility - GOV.UK (www.gov.uk)

That’s why we encourage anyone who thinks they may be entitled to check whether they can get Pension Credit.

This Autumn, we will be directly contacting pensioners who are in receipt of Housing Benefit but who may be eligible for, but not currently claiming, Pension Credit – building on last years ‘Invitation to Claim’ trial.

From 16th September we have launched a Pension Credit awareness campaign across press, radio and social media and I know that the devolved administrations in Wales and Scotland, along with local authorities and organisations such as Age UK, are also undertaking promotional activities.

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