On Friday the DWP (Department for Work and Pensions) issued a warning for people who are missing out on payments. The warning applies to those entitled to Pension Credit.
Those who are over the State Pension age and on a low income could be missing out on payments that will soon be worth up to £201 each week. Leading charity Age UK estimated that 34% of pensioners eligible to claim Pension Credit are still missing out on.
Pension Credit is a tax-free payment for those who have reached State Pension age and live in the UK. It tops up weekly income to a guaranteed minimum level, and from next month this will be £201.05 for single pensioners, or £306.85 for couples, the Liverpool Echo reports.
"Income" includes:
- State Pension
- other pensions
- earnings from employment and self-employment
- most social security benefits, for example Carer’s Allowance
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People may still be eligible for Pension Credit if they have not paid National Insurance contributions, have some savings or a small pension, live with their grown-up family, and/or own their own home. DWP has previously said there are common misconceptions that may be putting people off applying for Pension Credit. Gov.uk clarifies that people of State Pension age may be entitled to Pension Credit even though they may have modest savings, or a retirement income or own their own home.
It adds: "An award of Pension Credit can provide access to a range of other benefits such as help with housing costs, council tax, heating bills and for those aged 75 or over, a free TV licence".
To find out more about Pension Credit eligibility, or to apply, click here or call 0800 991 234.
