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SUE’S GUIDE TO Claiming Pension Credit
If you’re at state pension age and on a low income, you could be missing out on some extra cash from Pension Credit.
More than two million households currently claim it; but there’s reckoned to be around a million more who could. Quick claim checker The easy way to check is to plug your details into the Government’s Pension Credit calculator and see if you can claim. GOV.UK/PENSION-CREDIT-CALCULATOR How much can you get? Pension Credit comes in two parts and you can claim one, or both.
Guarantee Credit can boost your income to a minimum of £173.75 a week for a single person and £265.20 for a couple.
Savings Credit acts as a reward if you’ve saved towards retirement; say with a pension scheme. This is worth up to £13.97 a week for a single person, £15.62 for a couple. You can only start claiming Savings Credit if you reached state pension age before April 6, 2016.
How to apply
Before you apply, it’s worth knowing that any earnings, along with pensions and benefits you claim, will be taken into account, along with any savings over £10,000.
If you qualify, payments will be made direct to your bank account every four weeks.
You can find out more about Pension Credit and how to claim at GOV.UK/PENSION-CREDIT.
Or you can call the Pension Credit Claim Line on 0800 99 1234.
SUE’S TIPS:
◆ Pension Credit is a weekly tax-free payment in two parts – Guarantee and Savings Credit. You can claim one or both.
◆ Claiming Pension Credit means you can get other payments including a free TV licence (if you’re over 75), along with help with council tax.
◆ If your situation changes, this can affect any entitlement. You should report any changes through the website or claim line.