Martin Lewis has urged thousands of pensioners to check if they’re entitled to Pension Credit - and says it only takes five minutes to check.
Pension Credit is a benefit that tops your income if you're over retirement age.
It is also known as a “gateway” benefit as it unlocks council tax help, housing benefit, support with health costs and a free TV Licence for the over 75s.
MoneySavingExpert founder Martin says Pension Credit payments can be worth up to £3,300 annually.
Latest figures from the Government suggest 850,000 people are missing out on claiming this important pensioner benefit.
The Department for Work and Pensions (DWP) has announced a “day of action” today (June 15) to try and encourage people to check their Pension Credit eligibility.
“It's not often I agree to team up with the Government on a campaign, but I was happy to offer assistance for this one," explained Martin in the latest MoneySavingExpert newsletter.
“It's a national tragedy that getting on for a million pensioners, many of whom have been paying into the system for years, are missing out on a major income boost.”
Here, we explain how Pension Credit works…
What is Pension Credit?
Pension Credit comes in two parts. You may be entitled to one or both elements, depending on your circumstances.
The Guarantee Credit element of Pension Credit tops up your weekly income to:
- £182.60 if you’re single
- £278.70 if you have a partner
If you reached State Pension age before April 6, 2016, you may be eligible for the Savings Credit element of Pension Credit.
You could get up to:
- £14.48 if you're single
- £16.20 if you're a couple
You may get extra money if you have other responsibilities and costs, such as if you have high rent, if you have a disability or you care for someone.
For example, you could get an extra £69.40 a week if you claim certain disability benefits or an extra £38.85 a week if you receive Carer's Allowance.
If you’re responsible for children or young people, you could get an extra £56.35 a week for each person in your care.
This is increased to £66.85 a week for the first child if they were born before April 6, 2017.
If the child or young person is disabled, you could also get an extra amount of £30.58 to £95.48 a week if they get certain benefits.
You can view all the additional top-ups and their rates on the Gov.uk website.
Other help if you get Pension Credit
If you get Pension Credit you can also get other help, such as:
- Housing Benefit if you rent the property you live in
- Support for Mortgage Interest if you own the property you live in
- A Council Tax discount
- A free TV licence if you are aged 75 or over
- Help with NHS dental treatment, glasses and transport costs for hospital appointments
- Help with your heating costs through the Warm Home Discount Scheme
- A discount on the Royal Mail redirection service if you are moving house
How to make a claim
You can check your eligibility online by using the Pension Credit calculator on the Gov.uk website.
Or if you'd rather speak to someone on the phone, call the Pension Service Helpline on 0800 99 1234 in England, Wales or Scotland.
For Northern Ireland, call the Pension Centre on 0808 100 6165.
You can start your application up to four months before you reach state pension age.
If you've already reached state pension age, your claim can be backdated by three months.
When applying, you will need:
Your National Insurance number
Information about your income, savings and investments
Your bank account details, if you’re applying by phone or by post
If you’re backdating your claim, you’ll need details of your income, savings and investments on the date you want your claim to start.
