economy
State pensioners asked to provide bank statements could lose '£87' DWP payments
State pensioners across the UK could see payments worth an average of £87 a week reduced or even stopped as part of checks being carried out by the Department for Work and Pensions (DWP). Pension Credit provides extra financial help to people over State Pension age who are on a low income, with around 1.4 million households receiving the benefit.
TL;DR
- DWP is conducting reviews of Pension Credit claims across the UK.
- Around 1.4 million households receive Pension Credit, which supplements low income for pensioners.
- Reviews aim to ensure correct payment amounts by checking current financial circumstances.
- Pensioners' payments could be reduced or stopped if their savings or income have increased.
- Some individuals may receive higher payments if their savings have decreased.
- Up to 100,000 recipients may be asked to provide bank statements.
- Failure to provide requested information could lead to payment suspension.
- The DWP expects to recover £15 million through these reviews this year.