You are here: Home - Uncategorized -

Benefit take-up ‘needs to improve’

0
Written by:
24/07/2006

The proportion of pensioners living in poverty has fallen but more needs to be done to boost benefit take-up, according to the National Audit Office (NAO).

The NAO said that the percentage of pensioners living in poverty had fallen from 27% in 1994 to 17% in 2005, with means-tested benefits like the Pension Credit playing a big role in reducing the figure.

The NAO said that £6bn was paid out in Pension Credit to 2.7 million households in 2004-05 and between 61% and 69% of those people eligible to receive the credit do receive it.

Sir John Bourn, head of the NAO, said: “I am pleased to see that more than one million more households received Pension Credit than received its predecessor, the Minimum Income Guarantee.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Lib Dems accused of planning pensions plunder

Liberal Democrat leader Menzies Campbell has been accused of plotting a £4bn tax raid pensions after he proposed cutting tax...

Close