Full list of who can claim Pension Credit as 700,000 Brits missing out | Retirement | Finance

Pensioners are being reminded to check whether they could get a cash boost of around £4,300 a year as hundreds of thousands of people are said to be missing out. An estimated 760,000 people over State Pension age are eligible for the top-up, but not claiming it.

Pension Credit offers more than just direct financial aid – it can also provide additional monetary assistance with heating bills, housing costs, Council Tax and free TV licences for those aged 75 and over.

But, as reported by the Daily Record, Pension Credit is the most under-claimed benefit in the UK. It is specifically designed to offer extra financial support for older people on a low income – both singles and couples.

Nearly 1.4 million older individuals across Great Britain are currently receiving this means-tested benefit that could provide an average of £4,300 in additional support in the upcoming months.

However, some elderly people believe that because they have savings or own their home, they would not qualify for this means-tested benefit, which can also provide help with housing costs, heating bills and Council Tax.

An award of merely £1 per week is sufficient to unlock other forms of support. Below is a summary of the benefit including who should check eligibility, how to do it, and how much you could receive.

Who is eligible to claim Pension Credit?

There are two types of Pension Credit – Guarantee Credit and Savings Credit.

To be eligible for Guarantee Pension Credit, you must be of State Pension age (66). Your weekly income needs to be less than the minimum amount the UK Government says you need to live on.

The amount is £227.10 for a single person and £346.60 for a couple – this could be more if you’re disabled, a carer or have certain housing costs.

Eligibility for Savings Credit includes:

• Reaching State Pension age before 6 April 2016, or having a partner who reached State Pension age before this date and was already receiving it
• Having qualifying income of at least £198.27 a week for a single person and £314.34 a week for a couple

What might you receive from DWP?

Guarantee Credit boosts your weekly income to:

• £227.10 for a single person
• £346.60 for a couple (married, in a civil partnership or cohabiting)

You may be eligible for more if you’re disabled or a carer, or you have certain housing costs.

Savings Credit can provide up to:

• £17.30 a week for a single person
• £19.36 a week for a couple (married, in a civil partnership or cohabiting)

The exact sum you’ll receive depends on your income and savings. Your income includes assumed income from savings and capital over £10,000.

How to check eligibility for Pension Credit

Older people, or their friends and family, can swiftly check their eligibility and get an estimate of what they may receive by using the online Pension Credit calculator on GOV.UK here.

Alternatively, pensioners can ring the Pension Credit helpline directly to make a claim on 0800 99 1234 – lines are open from 8am to 6pm, Monday to Friday.