DON’T TURN UP YOUR NOSE AT OAP BENEFITS
ONE in four pensioners is missing out on a cash boost to their income because they fail to claim the Pension Credit they are entitled to.
Analysis by poverty charity Turn2us shows a million families are currently missing out, and it’s the cities of Glasgow, Manchester, Leicester, Liverpool and a number of London boroughs where the highest number of people don’t claim this financial help.
The charity says a lack of information, along with digital exclusion, is leaving many over-65s struggling needlessly to make ends meet.
Pension Credit is a means-tested benefit for people on a low income who have reached their state pension age.
It has two parts: Guarantee Pension Credit and Savings Pension Credit.
Guarantee Pension Credit tops up weekly incomes for those who have reached state pension age and are living on an income below £167.25 per week (single person) or £255.25 (couples).
Savings Pension Credit is an extra payment to reward people age 65 and over who have prepared for their retirement and have some savings or income. You must have reached state pension age before April 6, 2016.
The problem is that Pension Credit is not an automatic benefit, it has to be claimed.
Huge numbers of people think because they are say, a homeowner, they will not be entitled to help, while others are proud and don’t want to claim benefits.
It is important that people check if they are entitled to Pension Credit as it is a key benefit that once claimed then unlocks a whole raft of other financial help, from housing benefit to the Warm Home Discount, which knocks £140 off winter energy bills, to a free TV licence for over-75s from next year. David Samson, welfare benefits specialist at Turn2us, said: “Pension Credit is not a luxury. It makes a significant difference to the weekly income. We work with people every day who are struggling financially and know that older people are often the least well equipped to get the right support at the right time.
“We believe that a lack of information, along with digital exclusion amongst this age group, is a major reason for the lack of claiming; over one million families are currently missing out.”
Research earlier in the year from retirement specialist Just Group revealed pensioners were missing out on thousands of pounds worth of essential extra income during their retirement by failing to claim benefits they were entitled to.
Those not claiming anything were missing out on an average of £1139 per year – that would pay the average annual energy bill.