Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced back in 2003 to help keep retired people out of poverty.
The Department for Work and Pensions has launched a Pension Credit awareness drive, urging pensioners to check their eligibility for Pension Credit in order to secure this year’s Winter Fuel Payment. This follows the Chancellor’s recent announcement that the Winter Fuel Payment will be means tested in future.
Approximately 1.3 million households in England and Wales are expected to continue receiving Winter Fuel Payments. The government is eager to increase the uptake of Pension Credit to ensure that low-income pensioners who qualify for these payments continue to receive the Winter Fuel Payment. Pensioners must apply by 21 December 2024 in order to make a backdated claim for Pension Credit and be eligible for the Winter Fuel Payment.
Pensioners whose weekly income is below £218.15 for a single person or £332.95 for a couple should check to see if they are eligible. If your income is higher, you might still be eligible for Pension Credit if you have a disability, you care for someone, you have savings or you have housing costs. Not all benefits are counted as income.
Claimants entitled to the Pension Credit could be entitled to a support package worth an average of £3,900 per year. Details of how to make an application for Pension Credit can be found on GOV.UK at https://www.gov.uk/pension-credit/how-to-claim
The Chancellor of the Exchequer, Rachel Reeves commented that:
“The dire state of the public finances we inherited from the previous government means we’ve had to make some very difficult decisions.
Our commitment to supporting pensioners remains, which is why we are maintaining the triple lock.
We want pensioners to get the support they are entitled to. That’s why I urge all pensioners to check whether they are eligible for the Pension Credit.”