Credits not creditable, says PPI

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Pension Credit, Credit Guarantee, and Savings Credit are not meeting goals because of structural errors, figures and research from the Pensions Policy Institute suggest.

The conclusions are contained in a report submitted to the Work and Pensions Select Committee by the PPI Pension Credit take-up is still not beyond 74% of eligible households, while data suggests the rate of takeup by new applicants has started slowing. Guarantee Credit data suggest it is actually helping exaggerate relative poverty. Guarantee Credit levels increasing annually in line with national average earnings would mean minimum income levels can keep up with the rest of society. The PPI argues, however, that raising Guarantee Credit levels in line with prices reduces the num...

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