DWP Pension Credit Review: Why Some Pensioners Are Being Asked for Bank Statements?

Pensioners in London could be asked to provide recent bank statements as part of a new DWP Pension Credit review, as the Government steps up checks designed to ensure payments match claimants’ current financial circumstances.

The Department for Work and Pensions is contacting selected Pension Credit recipients rather than reviewing every claimant.

Being selected does not mean the pensioner is suspected of fraud, and a review could result in payments staying the same, being reduced or increasing where someone has been underpaid.

Why Is DWP Reviewing Pension Credit Claims?

The checks form part of a Government programme introduced in Budget 2025 to improve the accuracy of Pension Credit from April 2026. Treasury forecasts show expected savings of £370 million between 2026/27 and 2030/31, including £15 million in the first year.

The move follows official DWP figures showing Pension Credit overpayments reached an estimated £620 million in 2025/26, equivalent to 10% of expenditure. Around 33 in every 100 claims contained some level of overpayment, up from 28 in 100 a year earlier.

Incorrect declarations involving financial assets have been identified as one of the significant causes.

What Will DWP Look for on Bank Statements?

Where additional evidence is required, pensioners may be asked for recent bank statements to confirm information about their income, savings and investments.

One important point missing from much of the coverage is that having more than £10,000 in savings does not automatically end a Pension Credit claim.

Under the current rules, savings and investments of £10,000 or less are ignored. Above £10,000, every £500 — or part of £500 — is normally treated as providing £1 of weekly income when Pension Credit is calculated.

For example, £11,000 in savings would normally be treated as £2 a week of additional income.

Bank statements may therefore help the DWP establish whether the amount of capital recorded on a claim remains accurate.

Can DWP Automatically See Everything a Pensioner Spends?

The bank-statement review should not be confused with the Government’s newer Eligibility Verification Measure.

Under that system, banks can be required to identify accounts matching specified benefit eligibility indicators and supply limited information to the DWP.

However, the DWP’s official code says Eligibility Verification Notices cannot require financial statements or transaction information showing individual purchases or payments.

That is different from a claimant being directly asked to submit a bank statement during a benefit review. Once a statement has been supplied for a review, the information visible on that document can form part of the evidence considered.

What Should London Pensioners Do If They Receive a Review Letter?

Anyone contacted should first check that the communication is genuinely from the DWP and follow the instructions and deadline provided.

Pensioners should not send banking information in response to an unexpected text message, email or unofficial link.

Official DWP benefit checks can involve requests for evidence covering bank, building society or Post Office accounts as well as other financial information.

The issue is particularly relevant in the capital because Pension Credit remains underclaimed. City Hall says its Pension Credit campaigns have already helped more than 9,000 London households claim over £40 million in support that might otherwise have been missed.

For older Londoners, the message is therefore not to panic at the words “DWP Pension Credit review bank statements”.

A request for financial evidence is intended to establish the correct entitlement, and submitting accurate information could result in no change at all — or even reveal that a pensioner should be receiving more.