Newly released government data reveals a staggering number of older households across the UK are failing to claim a crucial benefit they are rightfully entitled to, potentially losing hundreds of pounds each month and a host of associated financial perks.
The Scale of Unclaimed Support
According to the latest statistics from the Department for Work and Pensions (DWP), an estimated 910,000 families who are eligible for Pension Credit are currently not receiving it. This represents nearly one million households missing out on a significant financial lifeline designed to support those over the State Pension age who are on a low income.
For couples who qualify, this benefit can provide a substantial boost to their weekly income. On average, eligible couples can receive up to £346.69 per week through the Guarantee Credit element of Pension Credit.
Understanding Pension Credit Eligibility
To qualify for the core Guarantee Pension Credit, you must have reached the UK State Pension age, which is currently 66. Your weekly income must also fall below a minimum threshold set by the government, which is deemed necessary for a basic standard of living.
The system also offers additional support for those with specific circumstances. If you are a carer, are disabled, or have certain housing costs, you could qualify for an amount higher than the standard rate. Furthermore, the Savings Credit component can provide extra money for those who have saved some money for their retirement, with the exact sum dependent on your income and savings. It is important to note that the DWP assumes an income from savings and capital that exceeds £10,000.
Beyond the Weekly Payment: A Gateway to Extra Help
A successful Pension Credit claim acts as a key, unlocking a wide array of additional support that can significantly ease the cost of living for older people. These valuable extras include:
- A free TV licence for anyone aged 75 or over.
- A council tax discount of up to 100%.
- Free NHS dental treatment and help with the cost of glasses and transport for hospital appointments.
- Support with housing costs, including Housing Benefit for rent and help with mortgage interest.
- Automatic eligibility for the Winter Fuel Payment and Cold Weather Payments when temperatures plummet.
How to Apply for Pension Credit
The application window for Pension Credit opens four months before you reach your State Pension age and remains open indefinitely. A significant advantage is that claims can be backdated by up to three months, providing a valuable lump sum.
Before starting your application, ensure you have the necessary information to hand. You will need details about your income, savings, and investments. If you are backdating your claim, you will need this information for the past three months. You will also require your National Insurance number and your bank account details.
Applying is straightforward. You can use the online service on the official GOV.UK website. Alternatively, you can apply by post by printing and completing the Pension Credit claim form, which can be sent to the DWP Pension Service. You can also call the claim line to have a form sent to you.
