The Department for Work and Pensions (DWP) has issued an alert about a benefit that individuals may qualify for even if they are homeowners with savings.
Pension Credit, which could provide up to £3,900 annually to some of the nation’s poorest, is being underclaimed, with an estimated 800,000 eligible people not receiving it.
The DWP is urging the public to verify their eligibility or that of family members for Pension Credit. In a series of messages on X, previously known as Twitter, the DWP encouraged: “If you or a family member are eligible for Pension Credit, you could be on average £3,900 a year better off. You could be entitled to #PensionCredit even if you own your home or have savings. Check your eligibility and apply online, or call 0800 99 1234.”
More information can be found here.
Pension Credit ensures a minimum weekly income of £218.15 for single pensioners and £332.95 for couples, tax-free, for those at the State Pension age residing in Great Britain.
Eligibility for Pension Credit is not affected by having not paid National Insurance contributions, possessing some savings or a modest pension, cohabiting with adult family, or being a homeowner. The Pension Credit calculator offers a way to estimate potential benefits without requiring personal details, reports Wales Online.
The Department for Work and Pensions (DWP) has issued a statement acknowledging the issue of unclaimed Pension Credit, stating: “We know that some people may not be getting Pension Credit when they might be eligible for it. We’re committed to changing that. The aim of this material is to raise awareness of Pension Credit and help dispel some common misconceptions that might deter people from claiming it by highlighting 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, 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. If you work with people over State Pension age, or with those supporting them, or know anyone who might be eligible, then please encourage them to find out more.”
Financial expert Martin Lewis has also been vocal in encouraging eligible individuals to apply for Pension Credit, emphasizing that it is not automatically granted and many could be missing out. Claimants of Pension Credit are entitled to additional benefits, including cost of living payments.
For those wondering how to claim Pension Credit:
You can initiate your application up to four months before reaching State Pension age. Applications can be made after reaching State Pension age, but they can only be backdated three months, potentially including up to three months of Pension Credit in your first payment if you were eligible during that period.
If you’ve already applied for your State Pension, you can use the online service. For more information, click here.
To make a claim over the phone, ring the Pension Credit claim line on 0800 99 1234. If you’re unable to use the phone, a friend or family member can call on your behalf.
For further details on how to claim, click here.
