The Department for Work and Pensions (DWP) has launched a new awareness campaign urging pensioners to check whether they could qualify for Pension Credit, financial support that could help with everyday costs. The campaign comes after Independent Age’s analysis found that more than a million eligible older people missed out on a combined £2.5 billion in 2023/24.
Pension Credit worth more than £4,500 a year on average
Joe Lytwyn, Personal Finance Expert at thimbl.com, is encouraging pensioners and their families to check their individual circumstances, including those who may assume owning a home or having savings makes them ineligible.
Joe said: “DWP has launched a new awareness campaign, highlighting that Pension Credit is worth more than £4,500 a year on average. That is not a guaranteed payment, as individual entitlement depends on someone’s circumstances.
“Independent Age’s analysis found that more than a million eligible older people missed out on a combined £2.5 billion in 2023/24. For someone managing a tight retirement budget, checking could identify valuable support with everyday costs.”
Owning a home or having savings does not rule you out
Asked whether pensioners could qualify if they own their home, have savings or receive the State Pension, Joe said: “Yes, potentially. Owning your home or having savings does not automatically rule you out, and Pension Credit is separate from the State Pension.
“Savings and investments of £10,000 or less do not affect Pension Credit. Above that amount, savings are taken into account, but you may still qualify. Your State Pension and other pension income generally count towards the assessment. The important thing is to check your individual circumstances rather than assume you are ineligible.”
Even a small award could open the door to further help
Receiving Pension Credit could also unlock other support, depending on individual circumstances. Joe said: “It could do. Depending on your circumstances, receiving Pension Credit could also open the door to help with housing costs, Council Tax, and heating bills.
“People aged 75 or over may qualify for a free TV licence, while those receiving the Guarantee Credit element of Pension Credit may qualify for help with NHS dental treatment and glasses. Each scheme has its own conditions, but even a small Pension Credit award could be worth checking.”
Claims can be backdated by up to three months
For pensioners and families looking to check eligibility, Joe said: “Start with the official eligibility guidance and Pension Credit calculator. A trusted family member could help gather details of income, pensions, savings and investments.
“Applications can be made online, by telephone or by post. The claim line is 0800 99 1234, Monday to Friday, 8am to 6pm. You do not need to wait for a campaign leaflet. Claims can be backdated by up to three months if you were eligible during that period, so checking promptly could help prevent missed payments.”
