The Money Saving Expert has created a list of ways people of all ages can increase their later-life income. In the latest edition of the MSE newsletter, Martin Lewis shares how individuals can boost their state, personal and workplace pension pots to maximise their retirement finances.
The consumer champion explained it's not just for those who are due to retire in the upcoming years, but also ways for those already claiming their state pension to benefit. A state pension is a contributory benefit administered by the Department for Work and Pensions reports The Daily Record.
Some individuals on state pension could be eligible for Pension Credit, which could unlock discounts on Council Tax, housing costs and heating bills. On average the benefit can be worth over £3,500 a year, and so Martin urges single pensioners with an income of less than £220 a week or older couples with under £320 a week to see if they are eligible.
