Thousands have started to claim a free income boost following a campaign by the Department for Work and Pensions. The average pay out for the increase is £3.500, and the latest figures show that almost 272,000 people have applied for the extra cash over the last year.
The push for people to claim the Pension Credit has come from the government and is aimed at those who are of retirement age. Money-saving expert Martin Lewis has also encouraged people to check the eligibility, reports the Birmingham Mail.
Mr Lewis told viewers of Good Morning Britain: "There are one million State Pensioners in the UK eligible for Pension Credit who do not claim it and that is an absolute tragedy. They've paid into the system for all of their lives and they're not getting this important top-up.
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"The reason this is so important is that the average payout is £3,500 a year but, even if you were only due 50 pence a year from Pension Credit, first of all you get the £900 cost of living payment on top and secondly Pension Credit is a crucial gateway benefit. It's a superpower."
Those who make a successful application for Pension Credit by May 19 can then be eligible for the DWP's £301 cost of living payment currently being rolled out, as well as the later instalments of £300 and £299 that will together total £900 for those on this and other means-tested benefits. Although the cut-off date to qualify for the first sum was February 25, Pension Credit can be backdated for up to three months and will then cover that earlier period.
Additionally, Pension Credit enables access to other discounts including a council tax reduction, a free TV licence (for those aged over 75), the £150 annual Warm Home Discount, and free NHS dental treatment, prescriptions, glasses and transport costs for hospital appointments.
Although there are 1.4 million people already claiming Pension Credit, it's thought that another 1 million are missing out. The DWP has been promoting the benefit over the past year so that more people know it exists as a potential income boost.
In a parliamentary question, Dr Rupa Huq, Labour MP for Ealing Central and Acton, asked: "How many eligible pensioners have applied for Pension Credit since the Government launched its awareness campaign to increase uptake in April 2022?"
In a written response, Laura Trott, Parliamentary Under-Secretary of State at the Department for Work and Pensions, disclosed the number of claims but said it was not recorded how many were successful. Ms Trott said: "There have been 271,851 Pension Credit applications submitted from April 2022 to March 2023. DWP does not hold data that show the proportion of customers who are eligible."
Martin Lewis says single pensioners with a total weekly income of under £220 and couples with a total weekly income of less than £320 should call the Pension Credit helpline on 0800 99 1234 to see if they are eligible. They can also see whether it's worth making a claim by using the online Pension Credit calculator on the Government website.
You will need to input personal details as well as information about any earnings, benefits, pensions, savings and investments so it can calculate eligibility. If you have a partner, both of you must be of State Pension age in order to get Pension Credit.
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