Martin Lewis urges state pensioners to get £990 with one phone call

Martin Lewis’s Money Saving Expert is urging state pensioners to check if they can claim an extra £988 a year from the Government.

The Department for Work and Pensions (DWP) Pension Credit is a significantly underclaimed benefit but could boost eligible people’s income by hundreds of pounds.

The benefit consists of two parts: Guarantee Credit and Savings Credit, and is available to those of the state pension age (currently 66) and over, who have a low income.

Guarantee Credit is the primary component, which ensures a person’s weekly income is topped up to a minimum guaranteed level.

For 2024, this amounts to £218.15 per week for single claimants and £332.95 per week for couples.

Meanwhile, Savings Credit provides “an extra boost” of up to £17.01 per week for single individuals and £19.04 per week for couples. Annually, this additional payment amounts to up to £990.08 per year.

Savings Credit is available to those who reached the state pension age before April 2016 and have saved some money for retirement through savings, or a personal or workplace pension.

People may still get some Savings Credit even if they do not get the Guarantee Credit part of Pension Credit, so it’s important to make the check to claim. However, the benefit must be claimed – it is not paid automatically.

Martin Lewis’s Money Saving Expert website states: “More than three million households are eligible for Pension Credit, but it’s estimated that over 800,000 don’t claim – in many cases because they don’t realise they could be entitled to it.”

It continued: “[Pension Credit] is NOT automatic so you MUST claim – here’s how. You can apply via Gov.uk if you’ve already claimed your state pension, otherwise phone the Pension Service on 0800 99 1234 (or the Northern Ireland Pension Centre on 0808 100 6165). You can backdate it for three months, so the quicker you check, the quicker you’ll benefit.”

Previously speaking on Good Morning Britain, the financial guru said: “It is a national tragedy that up to one million pensioners are missing out on this rather substantial entitlement in many cases.

“Many of those pensioners have been paying into the system for years and what Pension Credit is meant to do, is top people’s income up so if their state pension or other income isn’t enough, they still have a reasonable standard of living.”

Those who claim Pension Credit may also be eligible for other means of support, such as the Government’s Winter Fuel Payment. This benefit helps pensioners with heating bills during the winter, providing between £100 and £300 to those who meet the criteria.

The benefit was previously available to all pensioners in England and Wales born before a certain date. However, Chancellor Rachel Reeves announced that from this year, only pensioners receiving means-tested benefits, such as Pension Credit, will qualify.

Pension Credit claimants may also find themselves eligible for other means of financial support, such as free TV licences and council tax discounts.

People can check the website online here or call the Pension Credit helpline on 0800 99 1234 to see if they qualify for something else.

Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip.

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