As the Easter bank holiday approaches, many households are reminded that they could be missing out on up to £4,300 in unclaimed benefits from the Department for Work and Pensions (DWP). With rising costs in April for essentials such as Council Tax, energy bills, broadband, mobile phone contracts, and TV licences, family budgets are under increased strain.
However, dedicating just half an hour over the holiday could help you discover if you or someone you know is eligible for extra financial support. One key benefit that is often overlooked by older households is Pension Credit, a top-up payment for pensioners on low incomes.
What is Pension Credit?
Pension Credit is a means-tested benefit designed to help those over the state pension age who are struggling financially. The most recent DWP statistics show that 760,000 eligible pensioners are not claiming Pension Credit, leaving potentially significant amounts of financial support untapped.
Pensioners may mistakenly assume they don’t qualify for Pension Credit because they have savings or own their own home. However, even a small award of just £1 per week can open the door to additional support and benefits, potentially worth thousands of pounds.
How Much Could You Be Entitled To?
On average, older people on low incomes could be entitled to an extra £4,300 a year through Pension Credit. This sum can make a significant difference to the living standards of pensioners, particularly when rising costs are squeezing household budgets.
Other Benefits Available Through Pension Credit
Pension Credit is a “gateway benefit,” meaning that once you qualify for it, you may also be eligible for additional financial assistance. Here’s a rundown of some of the benefits that may be available to Pension Credit claimants:
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Winter Fuel Payment – A one-off payment to help with heating costs in winter.
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Support for Mortgage Interest (SMI) – Assistance if you own your home.
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Housing Benefit – Available if you rent your home.
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Council Tax Reduction – Discounts on your council tax bill.
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Free TV Licence – If you’re 75 or older.
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NHS Support – Assistance with dental treatments, glasses, and transport costs for hospital appointments.
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Cold Weather Payments – Payments when the temperature drops below a certain level.
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£150 Warm Home Discount – For those who receive the guarantee element of Pension Credit or have high energy costs.
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Christmas Bonus – A seasonal bonus for those receiving the guarantee element of Pension Credit.
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Royal Mail Redirection Discount – A discount for those who are moving home.
How to Check if You Qualify
If you think you or someone you know might be eligible for Pension Credit, you can easily check eligibility using the Pension Credit calculator available on the GOV.UK website. Alternatively, pensioners can contact the Pension Credit helpline at 0800 99 1234. However, please note that the helpline will be closed over the Easter weekend, reopening on Tuesday, April 22.
Additional Support for Those with Health Conditions
Pensioners over the state pension age who have health conditions may also qualify for other forms of financial assistance, such as Pension Age Disability Payment or Attendance Allowance. These benefits offer weekly payments of £73.90 or £110.40, which can add between £295.60 and £441.60 every four weeks to your household budget.
Interesting Fact:
Did you know? The Winter Fuel Payment alone can make a real difference in helping pensioners keep warm during the cold months. In some cases, the combined benefits available through Pension Credit—when including the Winter Fuel Payment, Cold Weather Payments, and the Warm Home Discount—can go a long way toward offsetting the costs of rising energy prices.
Frequently Asked Questions (FAQs)
1. What is Pension Credit?
Pension Credit is a benefit designed to provide extra financial support for those over the state pension age who have a low income. It is means-tested and can top up a person’s weekly income.
2. How do I check if I’m eligible for Pension Credit?
You can use the Pension Credit calculator on the GOV.UK website to check if you qualify. Alternatively, you can call the Pension Credit helpline for further assistance (0800 99 1234).
3. What are the main benefits that come with Pension Credit?
Pension Credit gives access to several additional benefits, including Winter Fuel Payments, Housing Benefit, Council Tax Reduction, and a free TV licence if you’re aged 75 or over.
4. Do I need to have no savings to qualify for Pension Credit?
No, having savings or owning your home doesn’t automatically disqualify you from Pension Credit. Even small amounts of savings might not affect your eligibility. You could still receive some level of support.
5. Can I apply for Pension Credit if I’m still working?
No, you must be over the state pension age to qualify for Pension Credit. However, if you are approaching the state pension age, it’s a good idea to check your eligibility well in advance.
6. How much extra financial help can Pension Credit provide?
On average, Pension Credit can provide an extra £4,300 per year. This can significantly boost your income, especially during times when other costs are rising.
Conclusion
The Easter bank holiday is the perfect time to check if you or someone you know could be entitled to additional financial support. By taking just half an hour to explore the possibility of claiming Pension Credit, you could unlock thousands of pounds in benefits and vital support. Don’t let rising costs catch you off guard—make sure you’re receiving all the help you’re entitled to.
