1. What is Pension Credit?
Pension Credit is a financial help from the UK government, managed by the Department for Work and Pensions (DWP). It gives extra money to people over 66 years old who have a low income, to help them afford basic living costs after retirement.
2. It’s Tax-Free and Non-Repayable
You don’t have to pay it back, and the money you receive through Pension Credit is completely tax-free. This means it won’t reduce any other income or benefits, and there’s no catch—you just get the extra support you deserve.
3. Up to £4,200 a Year on Offer
Many pensioners are missing out on over £4,200 per year, which is more than £80 a week. This could make a huge difference in covering food, bills, and other daily expenses. Yet, 850,000 eligible pensioners still haven’t claimed this benefit.
4. Two Main Parts of Pension Credit
There are two types of Pension Credit:
– Guarantee Credit: Topping up your weekly income if it’s too low
– Savings Credit: A bonus for those who’ve saved a little for retirement (only for those who reached State Pension age before April 6, 2016)
5. Guarantee Credit – Income Boost
If you’re single and earn less than £218.15 per week, or a couple earning less than £332.95, the DWP will top up your income to that level. Example: If you earn £200 per week, you’ll get an extra £18.15.
6. Savings Credit – For Older Pensioners Who Saved
If you were born before 6 April 1951 (for women) or 6 April 1953 (for men), you may qualify for Savings Credit, which gives up to £17.01/week for singles or £19.04/week for couples, if you’ve saved a little money for retirement.
7. Extra Perks Beyond the Money
Claiming Pension Credit opens access to other benefits, including:
– Free TV Licence (if over 75)
– Council Tax Reduction
– Cold Weather Payments & Winter Fuel Payments
– Free NHS dental treatment and prescriptions
8. Simple to Apply
You can apply online, by phone, or through a trusted adviser. You’ll need information about your income, savings, and housing situation. It’s quicker and easier than many people think.
9. Why Many People Miss Out
Some pensioners don’t realise they’re eligible, or think it’s too complicated. Even if you own your home or have savings, you might still qualify. Always check.
10. Don’t Miss Out—Act Now
If you or someone you know is over 66 and on a low income, check if you’re eligible today. This extra support can bring peace of mind and a better quality of life in retirement.
