The Department for Work and Pension (DWP) is set to launch their week of action as retirees are urged to check their eligibility for £3,500 in Pension Credit. An estimated 800,000 people on a low income are currently missing out on the benefit, which can boost your weekly income to a minimum amount of £201.05 for single pensioners and up to £306.85 for couples.
In total, Pension Credit is worth an average of more than £3,500 each year. Explaining how Pension Credit works, Citizens Advice says: “There are two parts to Pension Credit, called Guarantee Credit and Savings Credit. You might get one or both parts. Guarantee Credit tops up your weekly income to a minimum amount.”
“Savings Credit is a small top-up for people who have a modest amount of income or savings. It’s only available if you reached State Pension age before 6 April 2016.”
Read more: When Pensioner Cost of Living Payment will be sent to retirees
The DWP’s week of action will take place from June 12 to 16 this year in a major drive to try and get hundreds of thousands of pensioners to claim the credit. Last year saw the late Strictly Come Dancing Judge Len Goodman encourage retirees to check their eligibility.
Cost of Living Payment
Pension Credit is one of the means tested benefits which allows pensioners to get £900 in Cost of Living Payments from the DWP. The first of the three Cost of Living Payments was sent on April 25, 2023, meaning £301 should start arriving in bank accounts shortly. This will then be followed by £300 in the autumn and £299 in spring 2024.
Pensioners are eligible for the first payment if they claimed Pension Credit for any day in the qualifying period January 26, 2023 to February 25, 2023. However, if you missed this period, you can still get all three payments if your Pension Credit application is successful, as the benefit is backdated. If you miss the first qualifying period, it is still worth applying for Pension Credit, as you may be able to two of the three Cost of Living Payments.
How to claim Pension Credit
You can begin your application to claim Pension Credit up to four months before you reach the State Pension Age (SPA), which is currently 66.
If you have already applied for your State Pension, you then can use the online service here to begin claiming Pension Credit. Alternatively, you can call the Pension Credit claim line by telephone on 0800 99 1234 and textphone on 0800 169 0133.
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