It’s vital for older married individuals or those in civil partnerships to ensure they’re claiming all the additional financial support they’re entitled to this winter to help cover the higher costs during the colder months. The recent eligibility change to Winter Fuel Payments means that Pension Credit claimants will automatically qualify for a payment of up to £300.
However, new claims made before December 21 will also be entitled to a backdated payment. Pension Credit is the most under-claimed benefit, specifically aimed at providing extra financial support for older people on a low income – both singles and couples.
Nearly 1.4 million older people across Great Britain, are currently receiving this means-tested benefit that could provide an average of £3,900 in extra support during the upcoming year. However, the latest DWP figures suggest there are still 760,000 eligible pensioners not claiming the benefit they’re entitled to.
Many elderly individuals mistakenly believe that their savings or home ownership disqualify them from means-tested benefits, which can also provide assistance with housing costs, heating bills and Council Tax. A mere £1 per week award is sufficient to unlock additional support, reports the Daily Record.
Who is eligible for Pension Credit?
Pension Credit comes in two forms: Guarantee Credit and Savings Credit. To qualify for Guarantee Pension Credit, you must be of State Pension age (currently 66). Your weekly income should be less than the minimum amount the UK Government deems necessary for living.
This minimum is set at £218.15 for single individuals and £332.95 for couples. These amounts may be higher if you’re disabled, a carer, or have certain housing costs.
Savings Credit is only available under specific conditions:
- you reached State Pension age before April 6, 2016, or you have a partner who reached State Pension age before this date and was already receiving it
- you have qualifying income of at least £189.80 a week for a single person and £301.22 a week for a couple
How much could you potentially receive?
Guarantee Credit supplements your weekly income to a certain level. You might be eligible for more if you’re disabled, a carer, or have certain housing costs.
Savings Credit can provide up to a certain amount. The exact amount you’ll receive depends on your income and savings. Any income from savings and capital over £10,000 is taken into account.
Checking eligibility
To utilise the calculator on GOV. UK, you’ll need details of:
- earnings, benefits and pensions
- savings and investments
You’ll require the same information for your partner if you have one. You will be presented with a series of questions with multiple-choice answer options.
This includes:
- Any savings, investments or bonds you have
- How much you get each week from pensions – State Pension, private and work pensions
- Where in the UK you live
- Your date of birth
- How much you receive each week for any benefits you get
- Whether you are registered blind
- Which benefits you currently receive
- Any employment earnings
- Whether someone is paid Carer’s Allowance to look after you
- Your residential status
Once you’ve answered these questions, a summary screen displays your responses, allowing you to go back and alter any answers before submitting. The Pension Credit calculator then shows how much benefit you could receive each week.
ll you have to do next is follow the link to the application page to find out exactly what you will get from the DWP, including access to other financial support. There’s also an option to print off the answers you give using the calculator tool to help you complete the application form quicker without having to look out the same details again. Try the Pension Credit Calculator for yourself or your family member to make sure you’re receiving all the financial support you are entitled to claim.
Who cannot use the Pension Credit calculator?
You cannot use the calculator if you or your partner:
- are self-employed
- own more than one property
- have housing costs (such as service charges or Crown Tenant rent) which are neither mortgage repayments nor rent covered by Housing Benefit
- are deferring your State Pension
How to make a claim
You can start your application up to four months before you reach State Pension age. You can claim any time after you reach State Pension age but your claim can only be backdated for three months.