Hundreds of thousands of pensioners missing out on £3,500 in free DWP cash
The Department for Work and Pensions (DWP) has issued a warning to hundreds of thousands of pensioners missing out on £3,500 in free cash.
In a recent post on X, formerly Twitter, the DWP urged households to check if they can make a claim for the benefit Pension Credit. The post said: "Could someone you know be eligible for Pension Credit? They could be missing out on an average of £3,500 a year. Talk to them about checking their eligibility online today."
Pension Credit is a benefit available to people who have reached state pension age - although you don't need to be claiming state pension to get it. The aim of the extra cash is to help older Brits cover day to day living costs.
Around 1.4million households across the UK currently get Pension Credit, however, the latest Government figures revealed that around 850,000 people could be missing out. This equates to around £1.7billion worth of the benefit going unclaimed.
Who is eligible for Pension Credit?
Pension Credit is available to anyone over the state pension age living in England, Scotland or Wales, you also need to be on a low income. However, you can receive Pension Credit even if you have other forms of income, extra savings or your own property.
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According to DWP guidelines, you'll be eligible for Pension Credit if:
- You and your partner have both reached State Pension age (66 years old or above)
- One of you is getting Housing Benefit for people over State Pension age
If you have less than £10,000 in savings then your Pension Credit will not be impacted, however, if your savings go over this threshold support will be deducted.
How much do you get with Pension Credit?
Pension Credit comes in two parts and you may be entitled to one or both elements, depending on your circumstances. The Guarantee Credit element of Pension Credit tops up your weekly income to £201.05 if you’re single and £306.85 if you have a partner. Your income needs to be below these amounts to claim Guarantee Credit. In some cases, you might still be eligible if you have a higher income and you have a severe disability, you're a carer or you have to pay housing costs, such as a mortgage.
If you reached State Pension age before April 6, 2016, or you have savings or a second pension, you may be eligible for the Savings Credit element of Pension Credit. These tops could give you up to £15.94 if you're single and £17.84 if you're a couple. You might also get additional payments if you’re a carer, severely disabled, or responsible for a child or young person.
Alongside this, claiming Pension Credit also unlocks other perks, such as free TV licences for over-75s and help with housing costs, council tax and heating bills. The DWP says those who are entitled to the extra help could be on average £3,500 a year better off.
You can apply for Pension Credit online on the Gov.uk website, by calling 0800 99 1234, or by printing out and filling in a paper application form. You can get a friend or family member to ring for you, but you'll need to be with them when they do.
You will also need the following information on you before applying:
- Your National Insurance number
- Information about any income, savings and investments you have
- Information about your income, savings and investments on the date you want to backdate your application to (usually three months ago or the date you reached state pension age)
- Your bank, building society or credit union account details
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