Charity Independent Age has issued a crucial warning, stating that “lots of older people are missing out” on benefits and additional financial support they’re entitled to, which could help ease the strain during the ongoing cost of living crisis. It released an online video highlighting the chance for seniors to claim an annual income boost worth £4,200 – four months before reaching State Pension age.
These early claims for Pension Credit, as stated by the Department for Work and Pensions (DWP), can be made ahead of turning 66. Just this past Monday, Pensions Minister Emma Reynolds revealed that, as of the week commencing December 30, 2024, around 8,500 ‘advanced’ Pension Credit claims have been lodged.
Fran McSweeney, Head of National Services at Independent Age, shares vital advice in the charity’s video regarding Pension Credit applications. She explains how this benefit allows one’s State Pension income to reach the minimum standard the UK Government considers necessary for older people’s living needs, the Daily Record reports.
McSweeney further commented: “Once you receive Pension Credit you’re also entitled to extra help with things like the cost of dental treatment on the NHS, the cost of glasses, help with your Council Tax and other housing costs.”
She went on to emphasise that for those living with a disability or acting as carers, the potential Pension Credit amount could be higher, making it crucial to disclose such circumstances when applying for it.
Check your eligibility
You can verify your eligibility for the benefit either by using the Pension Credit calculator on GOV.UK, calling the Pension Credit helpline at 0800 99 1234 (open from 8am to 6pm, Monday to Friday), or consulting the guide on the Independent Age website. Even if you have savings or own your property, you might still qualify – the first £10,000 of savings are disregarded.
Apply early
You can apply for Pension Credit up to four months prior to reaching State Pension age (66) – comprehensive details on how to claim can be found on GOV.UK.
Backdate your claim
Claims for Pension Credit can be backdated by up to three months provided you were of State Pension age during that period.
Gather information needed before making a claim
Before applying, gather all necessary information, including details about your income, savings, and any benefits you’re claiming.
Reach out for extra help
If you have any queries or need assistance with the application, contact the charity on 0800 319 6789. You can also email them at [email protected].
Who can claim Pension Credit?
Pension Credit comes in two forms – Guarantee Credit and Savings Credit.
To be eligible for Guarantee Pension Credit, you must have reached the State Pension age (66), and your weekly income should be less than the minimum amount the UK Government deems necessary for living. This is £218.15 for a single person and £332.95 for a couple – these figures could be higher if you’re disabled, a carer or have certain housing costs.
You can only receive Savings Credit if:
- you reached State Pension age before April 6, 2016, or you have a partner who reached State Pension age before this date and was already receiving it
- you have qualifying income of at least £189.80 a week for a single person and £301.22 a week for a couple
The exact amount you could receive from the Department for Work and Pensions (DWP) depends on your income and savings. Your income includes assumed income from savings and capital over £10,000.
Guarantee Credit tops up your weekly income to:
- £218.15 for a single person
- £332.95 for a couple (married, in a civil partnership or cohabiting)
You might qualify for more if you’re disabled or a carer, or you have certain housing costs.
Savings Credit can provide you with up to:
- £17.01 a week for a single person
- £19.04 a week for a couple (married, in a civil partnership or cohabiting).
If you qualify for Pension Credit, you may also be eligible for other forms of assistance.
