Older Britons are being reminded to check their eligibility for Pension Credit ahead of the changes to benefit rates in April 2024.
This is a tax-free top-up administered by the Department for Work and Pensions (DWP) and those of state pension age who are on low income may be eligible to claim it.
Currently, an estimated 1.4 million pensioners receive extra financial support from Pension Credit.
However, 880,000 older people are eligible for this benefit but not claiming it.
Older people should check their eligibility for Pension Credit
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How much is Pension Credit?
If you are single, the DWP tops up a benefit claimant’s weekly income to £201.05 or £306.85 if they have a partner.
However, people may get extra amounts if they have other responsibilities or costs to cover, for example, if they have a severe disability.
Pensioners in receipt of disability payments, including Attendance Allowance or DLA, could get an extra £76.40 a week.
Carer’s Allowance claimants could potentially receive an extra weekly top-up worth £42.75 thanks to Pension Credit.
How much will Pension Credit be?
Similar to the state pension, the Pension Credit standard minimum is set to increase by 8.5 per cent under the triple lock mechanism.
This means the amount offered by the benefit will increase from £201.05 to £218.15 for single households.
For couples, this amount will be hiked to £332.95 a week if the proposed payment rate changes stay the same.
Pension Credit claimants with a severe disability will get an extra amount of £81.50, while carers could get an additional £45.60 weekly.
LATEST DEVELOPMENTS:
Up to 850,000 households are estimated to be eligible but not claiming Pension Credit ALAMYThese payment rate changes to Pension Credit, the state pension and other benefits will not be applied until April 2024.
The Government has made a conscious effort to promote Pension Credit in recent years as it is often referred to as a “gateway benefit”.
This is because the DWP support can provide pensioners access to a great range of other benefits outside of their weekly amounts.
Claimants have been able to access cost of living payments, support for housing costs and heating bill assistance thanks to Pension Credit.