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More than three million benefit from pension credit - Financial news from Quotesure - 21/06/2005


More than three million people were receiving pension credit in March this year
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More than three million benefit from pension credit

More than three million people were receiving pension credit in March this year, according to government figures.

The Department of Work and Pensions (DWP) revealed that 3.29 million people were in receipt of the benefit, meaning that an additional 65,000 individuals started receiving pension credit during the first three months of the year.

The average weekly award is £41.47 and 2.05 million households, or 2.48 million individuals, are getting more money as a direct result of Pension Credit.

"Pension Credit is an immediate and effective way of getting money to the least well off," said pensions minister, Stephen Timms. "The additional money has helped this government lift nearly two million pensioners out of absolute poverty reducing the scandal of pensioner poverty by nearly two thirds.

"We will continue to work with voluntary organisations and stakeholders to improve take-up among harder to reach groups."

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