The full state pension is means tested to a degree. It depends on how much NI you've paid in your lifetime. I for one will never qualify. So pension credit was introduced to reflect that there are a good number like me who won't qualify but will starve and be homeless in their dotage. If you have managed to squirrel away a bit, above a certain threshold pension credit is tapered if you qualify, in line with other benefits.
The elderly are expected to sell their homes to pay for residential care, which, despite inflated house prices, can eat up the price of an average home in a very short space of time. Those who need residential care are usually at a point where family, with the best will in the world, cannot keep them safe or adequately cared for even if they sacrifice their job to do so. Been there, done that and staring down the barrel if my second rodeo on that front.
And add to that the encouragement of children to move elsewhere for work and plenty of people are in a pretty pickle.
That's before you even look at the shambles of elderly care and the joys of fluctuating capacity where the rights of the elderly Trump their safeguarding because they're allowed to make unwise decisions.... welcome to the brick wall I've been banging my head against for approaching 6 months due to my elderly parents current situation.
Not every elderly person has come out if the property boom with a house to sell, even if they did work hard / try hard. Market crashes also impacted some who tried to make provision for themselves through private pensions only to see companies go to the wall taking their money with them.
Yet another big picture that people don't want to look at in its entirety.