A benefit amounting to £218 a week, dubbed as ‘the most unclaimed benefit’, is going unnoticed by thousands who are eligible, according to financial experts including Martin Lewis.
Pension Credit, designed to enhance the income of the nation’s lowest earning pensioners, often remains under-claimed, possibly due to lack of awareness about eligibility.
Campaigners including the Money Saving Expert himself, have been actively encouraging potential recipients to check their eligibility for Pension Credit, especially following the latest hike in benefits.
Pension Credit has now surged to be worth £218.15 for individual claimants and adds a whopping £332.95 for couples on top of their State Pension, reflecting a 6.7 percent increase that took effect from the onset of April. Spencer Churchill, a finance expert, underscored the significance of this benefit for “maintaining the standard of living among the most vulnerable pensioners”.
Birmingham Live reported how Pension Credit too often goes unclaimed, with Mr Churchill saying: “The Pension Credit increase of 6.7 percent is particularly significant for our clients who rely on this supplement for their essential expenses.”
The DWP said: “The adjustments to £218.15 a week for single claimants and £332.95 for couples are essential for maintaining the standard of living among the most vulnerable pensioners.
“We urge individuals who haven’t yet claimed Pension Credit but are eligible to do so, as it’s a valuable benefit that goes unclaimed too often.”
The State Pension also increased at the start of April, meaning up to £900 extra for millions of pensioners. It rose in line with the Government’s triple lock commitment, which guarantees a rise in line with whichever is highest out of inflation, wages and 2.5%.
