State pensioners could be handed an additional £238 each week on top of their regular Department for Work and Pensions (DWP) payments. Following a 4.8 per cent increase implemented back in April, the Pension Credit standard minimum guarantee now stands at £238 per week for single claimants.
Government statement on pension increases
The DWP stated: "The government has already delivered above-inflation increases worth up to £395 in real terms over this Parliament. By its end, pensioners' annual incomes are expected to rise by up to £2,100 – boosting financial security for millions."
"Pension Credit will also rise by 4.8% and be worth an average of £4,300 a year, unlocking further support including help with housing costs, council tax and free television licenses. Between 2026 and 2027, the government will provide a £6 billion boost to spending on State Pensions and pensioner benefits."
Minister urges pensioners to check eligibility
Labour Party Minister for Pensions Torsten Bell said: "We're committed to supporting harder-up pensioners however we can. Pension Credit is a simple way to give those who need it the most some extra support with bills or a free TV licence."
"I'd urge anyone who thinks they, or anyone they know, might be able to claim Pension Credit, to take a few minutes out of their day to check and apply. This country's pensioners deserve every penny they are entitled to."
What is Pension Credit?
Pension Credit is a benefit aimed at people over State Pension age, offering a top-up to their income. It is made up of two parts. While some people receive both, many qualify for just one of the two. Either way, you could be due extra cash.
- Guarantee Credit is the main part of Pension Credit, giving you a top-up of your weekly income to a minimum guaranteed level.
- Savings Credit is for those who reached state pension age before April 2016. There is an extra boost available if you have made provision for your retirement via savings, work or a private pension.
