THIS is an advertisement feature from the UK Government.
Who wouldn’t want some extra money – especially at the moment, when everything from energy bills to the weekly shop is getting more expensive?
That’s why it’s more important than ever to look out for pensioners who might need more support.
The good news is that there’s extra financial help available. It’s called pension credit.
Around 1.4 million pensioners are already receiving pension credit but there could be as many as 850,000 other households missing out.
It’s one thing that could make a real difference, now that the cost of living is on the rise.
Pension credit is extra money to help with daily living costs for anyone who’s reached state pension age and is on a low income.
Plus, if you get pension credit, you can also get help with other costs such as your rent (in the form of housing benefit), council tax and heating.
And if you’re over 75 and getting pension credit, your TV licence will be free, even if you live with other people.
Even if you’ve got some savings or you’re a homeowner, you could still get that little bit extra.
Some pensioners may not know about pension credit or think they won’t qualify, and so don’t claim. But they could be missing out on money that they’re entitled to.
If you’re of state pension age, have a look today to see if you’re eligible.
Or if you have an older family member or friend you think may be entitled to pension credit, you can help them check and make a claim to ensure they are not missing out. So, what are you waiting for?
Let’s bust some pension credit myths
Myth
I can’t get pension credit if I have a personal or workplace pension or any extra money coming in.
Fact
People of state pension age may be entitled to pension credit even though they have a retirement income through a private pension.
Pension credit tops up weekly income to a guaranteed minimum level of £182.60 a week for single pensioners or £278.70 for couples. It is a tax-free payment.
If you reached state pension age before April 6, 2016, you could get savings credit and still qualify for an amount of pension credit if your weekly income is less than £218.80 as a single person or £319.20 if there are two of you.
Myth
I own my home, so I can’t get pension credit.
Fact
Owning your home doesn’t stop you qualifying. And it doesn’t matter if you live alone or with people – for example, you might still be eligible if you live with your grown-up family or rent your home too.
Myth
I have savings so I won’t qualify for pension credit.
Fact
Savings of less than £10,000 will not affect your entitlement to pension credit.
If you have savings of more than £10,000, you may still get pension credit, but the amount you receive would be affected. Find out more online.
Myth
It’s too complicated to apply for pension credit.
Fact
There are several ways you can apply, so choose the easiest one for you. You can do it online, over the phone or by post.
And there is an online pension credit calculator, so you can find out how much you could get – without giving any personal details.
Myth
Pension credit won’t make a lot of difference to me.
Fact
Even if you qualify for a small amount of pension credit, there are many other things you could get help with, such as assistance towards your heating bills, housing costs, council tax and NHS dental care.
And if you’re over 75, you can get a free TV licence. With the rising cost of living and utilities, these knock-on benefits could make a big difference.
Myth
Someone would have contacted me if I were eligible.
Fact
Getting pension credit doesn’t happen automatically – you need to apply.
A whopping third of pensioners who could get pension credit don’t apply and miss out on this weekly top-up. Don’t be one of them!
Check your eligibility and see if you should be getting it. If you’ve applied for pension credit in the past but were unsuccessful or if you used to get it but don’t any more, it might be worth your while checking your entitlement again.
Are you missing out on pension credit?
Visit gov.uk/pension-credit or telephone 0800 99 1234 to check your eligibility and make a claim.
Have an older family member or friend? They might be entitled to get their state pension topped up with extra money from pension credit. Help them apply online.
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