DWP encourages UK pensioners to claim Pension Credit - Find out if you're eligible
by Kieran Isgin · ChronicleLiveAcross the nation, older individuals could be eligible for additional financial support that could unlock a host of benefits.
Pension Credit, a benefit specifically tailored to offer extra financial aid to older people with low incomes, is currently the most under-claimed. Nearly 1.4 million older folks across Great Britain are currently receiving this means-tested benefit, which could provide almost £4,000 in additional support over the next year.
However, recent figures from the DWP reveal that there are still 880,000 eligible pensioners not claiming the benefit they're entitled to. This means-tested benefit can also open doors to further help with housing costs, heating bills and Council Tax.
More individuals who may qualify are being urged to apply as an award of just £1 per week can unlock other types of support. Here's a rundown of Pension Credit, including eligibility requirements and how to apply, reports the Manchester Evening News.
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Who qualifies for Pension Credit?
Pension Credit comes in two forms: Guarantee Credit and Savings Credit. To be eligible for Guarantee Pension Credit, you must have reached State Pension age (currently 66).
Your weekly income should be less than the minimum amount the UK Government considers 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.
Guarantee Credit is designed to top up your weekly income to a specific level. If you're disabled, a carer, or have certain housing costs, you might be eligible for more.
Savings Credit can provide up to a certain amount. The exact sum you'll receive depends on your income and savings.
Any income from savings and capital over £10,000 is taken into account.
To check your eligibility
You can verify your eligibility for Pension Credit via 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 - State Pension, 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 start applying for Pension Credit within the four months before you reach the State Pension age and any time after - in this case your claim could be backdated up to three months prior. You will also need the following information on hand before starting the application process:
- 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 here.
Alternatively, you can apply by post by printing out and filling in the Pension Credit claim form and sending it to the DWP Pension Service or call the claim line to request a form.
Full details of the application process can be found here.
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