Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced in 2003 to keep retired people out of poverty.
Pension Credit can top up:
- your weekly income to £201.05 if you are single; or
- your joint weekly income to £306.85 if you have a partner.
If your income is higher, you might still be eligible for Pension Credit if you have a disability, you care for someone, you have savings or you have housing costs. Not all benefits are counted as income.
Claimants who submit a Pension Credit before 10 December 2023 could be entitled to an extra £300 cost of living boost, on top of support worth an average of £3,900 per year. This is because successful Pension Credit claims can be backdated for up to three months, as long as the applicant was also eligible to receive it during that time. HMRC estimates that there are many pensioners entitled to the credit who have not yet made a claim.
Details of how to make an application for Pension Credit can be found on GOV.UK at https://www.gov.uk/pension-credit/how-to-claim
Minister for Pensions Paul Maynard said:
‘We want every pensioner to receive all they help they can and with time ticking down to deadline day and the window drawing to a close, now’s the perfect time to check out our Pension Credit calculator and make sure you or your loved ones aren’t missing out on this vital support. In many cases, it’s an open goal to more money in your pocket.’
Recipients of Pension Credits will automatically get cold weather payments and are also eligible to apply for a free TV licence if they are aged 75 or over.