Figures released by the Department for Work and Pensions have shown that between £1.46 billion and £2.07 billion of pension credits are unclaimed by more than one million pensioners. While 2.57 million pensioners are claiming £5.46 billion of pension credits due to them in the UK, between 1.14 million and 1.63 million people are not claiming the credit and losing out financially.
The Conservatives have attacked the Government over the figures, saying that this demonstrates that means testing is failing more than one million of Britains poorest pensioners.
Our view
We have not noticed the Government offering to put these 'orphan' assets in the Pensions Compensation Fund they only plan to attack private 'orpaned' assets i.e. unclaimed assets in Banks. 'Grave Robbers'!