Thousands of state pensioners are missing out on a cash boost ‘worth much more than Winter Fuel Payment’. Martin Lewis’ Money Saving Expert says it is “a national tragedy that close to one million pensioner households, many of whom have been paying into the system for years, are missing out on an average income boost of around £3,900/year via Pension Credit.”
The BBC and ITV star’s team explains: “It takes minutes to check if you qualify, so don’t stall, just call. The exact rules of who can get Pension Credit are complex, so we have a simple rule of thumb for those of state pension age (currently 66 or older):
“If you’re single with total weekly income under £218 you’re likely to get it. If you have a weekly income of under £235 then you may get it. If you’re a couple, both of pension age, with total weekly income under £333 you’re likely to get it. If you have a weekly income of under £350 then you may get it.
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“There’s a higher threshold if you claim certain disability benefits or have caring responsibilities. If this is you, it’s worth checking.” For those who reached State Pension age before April 6, 2016, an additional Savings Credit portion could provide up to £17.01 weekly for singles and £19.04 for couples.
Sarah Pennells, consumer finance specialist at Royal London, said: “Although the restriction of the Winter Fuel Payment has encouraged many thousands to apply for Pension Credit, other benefits that you could be able to claim because you’re receiving Pension Credit, such as help with housing costs through Housing Benefit and a reduction in Council Tax, could be worth much more than the Winter Fuel Payment.”
Ms Pennells continued: “There is still a significant gap in awareness around Pension Credit and the other benefits that claiming it entitles people to. But our research also found that there is a sense of embarrassment associated with applying for benefits, when there should be absolutely no shame in accepting help.”
Ms Pennells concluded: “The easiest way to check if you qualify for Pension Credit is to use one of the free online benefit calculators, and, once you know that you can claim, you can apply via the Gov.uk website, post or phone.”