UK DWP Estimates 760,000 Pensioners Eligible for £4,300 State Pension Top-Up

In the UK, the full New State Pension is currently £230.25 per week, but not all retirees receive the full amount due to gaps in National Insurance contributions. To increase their pension, retirees can either continue working and paying contributions or make voluntary National Insurance payments. The government is addressing concerns about insufficient retirement savings by introducing pension megafunds to boost pension pots and planning reviews of the pension age and systems to prevent future retirees from being poorer. Additionally, around 700,000 pensioners eligible for means-tested Pension Credit, which can provide an average top-up of £4,300 annually, are not claiming it, prompting ongoing awareness campaigns to encourage claims. Older people on very low incomes, especially those over 80, may also qualify for additional support such as the 'Over 80 Pension' or Winter Fuel Payments to help with living costs. The Department for Work and Pensions aims to expedite Pension Credit claims, ensuring payments and arrears could be received within 10 weeks from application.