Low-income pensioners are being urged to come forward for Pension Credit payments that can boost their weekly income to £238 for single people and £363.25 for couples, according to a new push from financial experts. The benefit, which goes unclaimed by nearly a million eligible people, is worth an average of £4,300 a year.
Pension Credit is among the most underclaimed Government benefits, with many over-65s unaware they could qualify for extra money. The support acts as a top-up, bringing weekly income up to a minimum level for some of the poorest pensioners. For a couple, the higher £363.25 rate means up to £1,574 a month, depending on individual circumstances and existing income.
Who is eligible and how much can you get?
Single pensioners can have their weekly income topped up to £238, while couples can receive up to £363.25 combined. The exact amount paid depends on how much money each person receives each month, as the benefit is designed to bring income up to a set threshold.
Money Saving Expert said: "If you're retired and have income less than £238 a week as an individual, or £363 a week as a couple, you may be due Pension Credit worth £4,300 a year, on average."
The financial website added: "Plus, it entitles you to a whole raft of other benefits."
Why so many miss out on Pension Credit
Pension Credit goes massively underclaimed, and there are fears the support is misunderstood. People may not be aware they could qualify, or perhaps assume it is not worth much extra money to them. Others may fear the application process is too complicated.
Money Saving Expert noted: "About 2.3 million are eligible for Pension Credit, but it's estimated that around 910,000 don't claim – in many cases because they don't realise they could be entitled to it."
Extra benefits unlocked by claiming
Even if Pension Credit is only worth a small amount, it can open up access to a number of other benefits and perks. This includes the £150 Warm Home Discount to help with energy bills over winter and potentially a free TV Licence if over 75.
So it is always worth checking what you could claim, and loved ones can help older relatives and neighbours. The call comes as part of a wider effort to encourage pensioners born before 1960 to check their eligibility, with many potentially missing out on thousands of pounds a year in additional support.
