This isn’t accurate, but gives a flavour of the impact.
‘While the relative poverty rate for pensioners fell from 18% in 2019 to 16% in 2022, the proportion of pensioners who report being unable to afford key material items ('in material deprivation') rose from 6% to 8% over the same period, and the fraction who could not afford to heat their home rose from 2% to 5%.’ 19 Jul 2024 IFS
There are 11 million pensioners, and if 84% of them lose their WFP, given that 1.4 million already get pension credit, the profit made by the government will very significantly exceed the payment to more who need pension credit, including those who will meet the threshold without the WFP.
A drop in the ocean in the great schemes of things....but replicated by how many more

