UK - Nearly half of the 4.9 million people eligible for the government's pension credit are missing out, new figures reveal.
An independent study by Continental Research shows that the means-tested benefit is being paid to 2.53 million individuals and the rate of new pensioners signing up for the credit has slowed.
But 90% of people who had applied were happy with the application process and service they received from staff.
Liberal Democrat work and pensions spokesman Steve Webb said the slow take-up to the “eye-wateringly complex” pension credit was “extremely worrying”.
He added: “As every month goes by, pensioners are missing out on money they are entitled to. The only guaranteed way to get extra money to the poorest pensioners is by boosting the inadequate state pension.”
Pensions minister Malcolm Wicks said: “The pension credit has a huge role to play in helping the country’s poorer pensioners and there are now over 1.7 million people gaining more money as a result of their successful application.”
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point