Older people across the country could get a significant income boost (Image: Getty Images)
Across the UK, older individuals could be eligible for additional financial support that could unlock a host of benefits. Pension Credit, a benefit specifically designed to provide extra financial aid for older people with low incomes, is currently the most under-claimed.
At present, nearly 1.4 million older individuals across Great Britain are receiving this means-tested benefit, which could offer almost £4,000 in additional support over the next year. However, recent data from the suggests that there are still 880,000 eligible pensioners not claiming the benefit they’re entitled to.
This means-tested benefit can also provide access to further assistance with housing costs, heating bills and Council Tax. More people who may be eligible are being urged to apply as an award of just £1 per week can unlock other forms of support.
Here’s a rundown of Pension Credit, including eligibility criteria and how to apply.
Who is eligible for Pension Credit?
Pension Credit comes in two forms: Guarantee Credit and Savings Credit. To qualify for Guarantee Pension Credit, you must be of age (currently 66).
Your weekly income should be less than the minimum amount the UK Government deems necessary for living. This minimum is set at £218.15 for single individuals and £332.95 for couples.
You have qualifying income of at least £189.80 a week for a single person and £301.22 a week for a couple. If you reached age before April 6, 2016, or if your partner reached age before this date and was already receiving it, Guarantee Credit could top up your weekly income to a certain level.
You might be eligible for more if you’re disabled, a carer, or have certain housing costs. Savings Credit can provide up to a certain amount, with the exact amount you’ll receive depending on your income and savings. Any income from savings and capital over £10,000 is taken into account.
To check your eligibility for Pension Credit, you can use the government’s Pension Credit calculator here. To use the calculator, you’ll need details about yourself and your partner (if applicable) when answering some questions included in the calculator:
- Whether someone is paid Carer’s Allowance to look after you
- How much you get each week from pensions – , private and work pensions
- Where in the UK you live
- How much you receive each week for any benefits you get
- Your residential status
- Any savings, investments or bonds you have
- Whether you are registered blind
- Which benefits you currently receive
- Any employment earnings
- Your date of birth
Once you’ve answered these questions, a summary screen displays your responses, allowing you to go back and alter any answers before submitting. The Pension Credit calculator then shows how much benefit you could receive each week.
How to apply
You can begin your Pension Credit application within the four months leading up to your age and at any point afterwards – in this scenario, your claim could be backdated by up to three months. Before starting the application process, you will need the following information:
- Information regarding income, savings, and investments you may have as well as this information dating back to up to three months if you’re backdating the claim.
- Your National Insurance Number
- Your bank details
You can apply online through GOV. UK .
Alternatively, you can apply by post by printing out and filling in the Pension Credit claim form and sending it to the Pension Service or call the claim line to request a form. Full details of the application process can be found