More Eligible for Pension Credit
Recent figures published today have revealed that thousands more Brits are claiming Pension Credit, but more could be eligible for cash. The benefit is designed to help people over state pension age (currently 66) and struggling to get by on a low income. The average Pension Credit award is worth over £3,500 a year and tops up a person's income to a minimum of £201.05 per week for single pensioners and to £306.85 for couples.
Number of People Receiving Benefit Remains Broadly Flat
Official figures released by the Department for Work and Pensions show that the number of people receiving the benefit "remained broadly flat" between November 2022 and February 2023. Around 32,000 older people on low income started receiving Pension Credit during the three-month period, according to analysis by a national charity. However, Independent Age says there are still not enough eligible retirees receiving the "life changing" cash.
Concerns Over Eligible Pensioners Missing Out
Morgan Vine, head of policy and influencing at Independent Age, expressed concerns about the many thousands of eligible people missing out on Pension Credit. She emphasized that this group, often on desperately low incomes, are not receiving the money they are owed. The government estimates that around 850,000 eligible pensioners miss out on the cash boost every year. Ms. Vine also highlighted the additional support that could be accessed, such as Housing Benefit and help with NHS costs, by those receiving Pension Credit.
Calls to Government for Uptake Rate Statistics
Ms. Vine called on the government to publish statistics on the uptake rate of Pension Credit this autumn to fully understand the issue. She shared that the charity's helpline was "inundated" with calls from frightened older people who were making significant cutbacks to save money. Ms. Vine emphasized that this should not be happening in modern Britain and that it is essential for eligible individuals to receive the support they are entitled to.
Action Being Taken to Encourage Claims
The Department for Work and Pensions is currently writing to thousands of households this summer, inviting them to claim Pension Credit. Even a small award can unlock further support, including help with housing costs, council tax, and heating bills. Plus, those over 75 are eligible for a free TV licence. Additionally, claiming Pension Credit makes individuals eligible for the second installment of the £900 cost-of-living payment.
How to Claim Pension Credit
To claim Pension Credit, individuals can apply online or call the pension credit claim line. It's important to have all the necessary details on hand, including the National Insurance number, bank account details, and information about income, savings, and investments. The benefit is available for people over the state pension age who live in England, Scotland, or Wales. The income threshold for eligibility is a weekly income of less than £201.05 for single people and £306.85 for couples.
Amounts and Additional Support
Pension Credit has two parts: guarantee credit and savings credit. Guarantee credit tops up weekly income to a guaranteed minimum level, and the current rates are £201.05 a week for singles and £306.85 a week for married couples. Savings credit provides extra money for those who have saved money towards retirement. Additional amounts can be received for disabilities, caring responsibilities, and certain housing costs. The payment is usually made every four weeks into a designated account.
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