The Department for Work and Pensions (DWP) has confirmed that nearly 78 per cent of all new claims for Pension Credit are processed within the target timeframe of 50 working days. This means older people on a low income making a new claim in August, especially those living on their own, could receive their first payment and any arrears before the end of October.
The full New State Pension is now worth £241.30 per week, and the full Basic State Pension is worth £184.90. However, data from the Office for National Statistics (ONS) shows that in 2021, some 3.3 million people aged 65 and over were living alone in England and Wales, with around 337,000 single pensioner households recorded in Scotland.
It is crucial for all older people - single, married or cohabiting - to make sure they are claiming all the additional financial support they are entitled to in the new financial year to help boost their income and offset the ongoing impact of the higher cost of living.
Who Can Claim Pension Credit?
There are two types of Pension Credit - Guarantee Credit and Savings Credit. To qualify for Guarantee Pension Credit, you must be State Pension age. Your weekly income will need to be less than the minimum amount the UK Government says you need to live on. This is £238.00 for a single person and £363.25 for a couple - this amount could be higher if you're disabled, a carer or have certain housing costs.
Guarantee Credit tops up your weekly income to £238.00 for a single person and £363.25 for a couple. You might be able to get more than this if you're disabled or a carer, or you have certain housing costs. Savings Credit can give you up to £17.96 a week for a single person and £20.10 a week for a couple. The exact amount you'll get depends on your income and savings, including assumed income from savings and capital over £10,000.
How to Check Eligibility
Older people, or friends and family, can quickly check their eligibility and get an estimate of what they may receive by using the online Pension Credit calculator on GOV.UK. Alternatively, pensioners can contact the Pension Credit helpline directly to make a claim on 0800 99 1234 - lines are open 8am to 6pm, Monday to Friday. Expert help and advice is also available from Independent Age, Income Max, Citizens Advice, and Age UK.
If you qualify for Pension Credit, you can also get other help, such as Housing Benefit if you rent, Support for Mortgage Interest if you own, Council Tax discount, free TV licence if you are aged 75 or over, help with NHS dental treatment, glasses and transport costs for hospital appointments, help with heating costs through the Warm Home Discount Scheme, and a discount on the Royal Mail redirection service if you are moving house.
Mixed Age Couples and Backdating
In May 2019, the law changed so a 'mixed age couple' - where one partner is of State Pension age and the other is under it - are considered a 'working age' couple when checking entitlement to means-tested benefits. This means they cannot claim Pension Credit or pension age Housing Benefit until they are both State Pension age.
You can start your application up to four months before you reach State Pension age. You can claim any time after you reach State Pension age, but your claim can only be backdated for three months. This means you can get up to three months of Pension Credit in your first payment if you were eligible during that time. You will need your National Insurance number, information about your income, savings and investments, and your bank account details if applying by phone or post.
