DWP warns thousands of state pensioners could be missing out on extra £4,000

Thousands of people could be missing out on extra £4,000 from the Department for Work and Pensions (DWP) each year. Hundreds of thousands of people could be missing out on this one benefit that opens the door to other forms of support.

nsion 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.

But DWP data shows that there are still 880,000 eligible pensioners not claiming the benefit they're entitled to. Pension Credit comes in two forms: Guarantee Credit and Savings Credit. To qualify for Guarantee Pension Credit, you must be of State Pension age (currently 66).

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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 State Pension age before April 6, 2016, or if your partner reached State Pension 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.

You can begin your Pension Credit application within the four months leading up to your State Pension age and at any point afterwards - in this scenario, your claim could be backdated by up to three months.