IF you are a pensioner struggling to make ends meet you could be entitled to something called ‘Pension Credit’, something the Government does not appear to be advertising so freely.
Around £7billion of Pension Credits have gone unclaimed since 2017, meaning that some of the most vulnerable older people are missing out on around £49 per week.
What is Pension credit?
Pension Credit tops up the state pension for those who need it. It comes in two parts – guaranteed credit and savings credit.
The first is for the poorest pensioners whose weekly income is below £167.25 or £255.25 per couple. The credit tops you up to this level.
Savings credit is available to those who already have savings and reached state pension age before April 6, 2016.
For this, the maximum sums are £13.72 a week for individuals and £15.35 for couples but the more savings you have, the less you will get. You do not pay tax on pension Credit.
Who can claim?
You must live in England, scotland or wales and be of state pension age.
If you’re part of a couple and only one of you is old enough, he or she must also be in receipt of housing benefit for OAPs.
If one of you reached pension age before May 14, you can submit a backdated claim until August 13 and still qualify.
Is it means-tested?
Yes. it takes into account state pensions, other pensions, most social security benefits such as Carer’s Allowance, and savings. The first £10,000 of savings don’t count.
You may still qualify if your income is higher but are disabled or a carer.
How do I claim?
Call 0800 99 1234 with your bank account details, National Insurance number and income, savings and housing costs to hand. Independent Age can help on 0800 319 6789.
Information taken from the Daily Express.