Pension Credit is a Government benefit which tops up the weekly income of eligible claimants. Claiming Pension Credit can also help people to access further support, such as Cold Weather Payments. According to MoneySavingExpert, Pension Credit can be worth up to £3,000 per year on average.
In the latest money tips newsletter, MoneySavingExpert urged people to check if they are eligible to receive Pension Credit, as many are missing out on extra money.
MoneySavingExpert said: “Many of the UK’s poorest fail to claim Pension Credit, even though it’s worth an average of £60/week in its own right.
“We’re reminding you (again) as claiming also makes you eligible for other discounts on many bills, some of which will rise in April.
“Plus it entitles you to heating help when it’s very cold, which 300,000 pensioners got during this month’s cold snap.
“But Pension Credit is not automatic and about one million who are eligible don’t claim.”
However, there are exceptions which may mean claimants receive further financial support while receiving Pension Credit.
Citizens Advice explain: “You might be able to get extra money if you get other benefits or you’re responsible for a child.
“If you get other benefits, such as Carer’s Allowance, Disability Living Allowance, Personal Independence Payment or Attendance Allowance, your weekly Guarantee Credit amount can go over the minimum income threshold of £173.75.
“If you’re eligible you can receive an extra amount for severe disability of £66.95 a week. Check if you’re eligible for the severe disability addition on GOV.UK.
“The extra amount if you’re a carer is £37.50. You’ll get this if you or your partner receive Carer’s Allowance or have claimed for it and meet its conditions.”