The Department for Work and Pensions has released their December survey into just how well the newly introduced Pension Credit is doing. According to the update, 2.43million people are now receiving the Pension Credit. That's an extra 106,000 people during November alone. The average weekly credit is now said to be £46.60.
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It seems that whilst the Pension Credit is taking some time to be applied for by new claimants, the figures are rising month on month. This can only be good news for those people entitled to it. The Government figures have shown that around 235,000 households were not entitled to the Minimum Income Guarantee (the forerunner to the Pension Credit). These households are now entitled to the Pension Credit and have apparently benefited by an average of £9.70 per week.
Also, for those people that were entitled to Minimum Income Guarantee but did not claim it, if they are now claiming the Pension Credit, they are better off by an average of £35.90 per week. These figures are definitely not bad and pensioners seem to be getting a better deal.