The figure of £275 was the amount calculated as the minimum for pensioners to live without falling into poverty. The Wellbeing Pension was derived in accordance with research conducted by Wellbeing Economy Think Tank Scotianomics into the pension system in the UK.

Scotianomics adopted tried and tested approaches such as those used to calculate the Real Living Wage and an adapted Minimum Income Standard for pensioners as set out by the Joseph Rowntree Foundation. £275 per week meets the basic Minimum Income Standard for pensioners who have not had the opportunity to pay into a private pension. Thus it is a safety net amount and a portion of it may be met by Pension Credit.