The Department for Work and Pensions (DWP) has revealed that an additional 42,500 households are now benefiting from Pension Credit. This vital financial aid not only supplements income during retirement but also unlocks a host of other support measures, including free TV licences for those over 75 and the Winter Fuel Payment, worth up to £300. Here’s how you can take advantage of these benefits before key deadlines approach.
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What is Pension Credit?
Pension Credit is a government benefit designed to top up the income of retirees. It consists of two main parts:
- Guarantee Credit: Ensures your weekly income reaches at least £218.15 if you’re single or £332.95 if you’re in a couple. Even if your income exceeds these thresholds, you may still qualify if you have additional needs such as a disability, are a carer, or face high housing costs.
- Savings Credit: Provides an additional payment for those who have saved towards their retirement. However, this is only available for people who reached state pension age before 6 April 2016.
Why Apply Now?
Applying for Pension Credit not only boosts your weekly income but also acts as a gateway to several additional benefits. With the application deadline looming, now is the time to act. According to Martin Lewis, founder of MoneySavingExpert.com, “Any state pensioners on a lower income should urgently check if they’re eligible for Pension Credit. Doing so could provide an extra £4,000 annually and make you eligible for the Winter Fuel Payment.”
Today is the final day to apply by phone, with online applications closing tomorrow.
Additional Benefits Unlocked by Pension Credit
Once approved for Pension Credit, you may be entitled to the following:
- Winter Fuel Payment: A vital payment of up to £300 to help with heating costs during the colder months.
- Free TV Licence for Over-75s: Worth £169.50 annually, this benefit provides free access to television for eligible retirees.
- Council Tax Reduction: Substantial discounts potentially saving thousands of pounds.
- Warm Home Discount: A £150 annual payment to help with energy bills.
- Housing Benefit: Assistance that can cover a significant portion of your rent.
- Cold Weather Payments: An extra £25 per week during periods of extremely cold weather.
- Free Home Insulation and Boiler Grants: Worth hundreds or even thousands of pounds, these improvements can lower your energy bills.
- Free Dental Treatment: Savings that can amount to hundreds or thousands of pounds.
- Vouchers for Glasses or Contact Lenses: Valued between £39 and £215, depending on your prescription.
- Water Bill Discounts: Potential savings of hundreds of pounds annually.
- Cheaper Broadband: Affordable tariffs for Pension Credit claimants, saving hundreds of pounds per year.
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How to Apply
You can apply for Pension Credit:
- Online: Visit the official DWP website before deadline.
- By Phone: Call the Pension Credit claim line at 0800 99 1234.
- By Post: Request a paper application form through the Pension Service helpline.
Ministerial Encouragement
Emma Reynolds MP, Minister for Pensions, has emphasized the importance of checking eligibility: “With the 21 December deadline approaching, my message is clear: check if you’re eligible for Pension Credit and apply. It not only tops up your income but also unlocks a range of benefits, including the Winter Fuel Payment.”
Don’t Miss Out
Approximately 700,000 eligible pensioners are still not claiming Pension Credit, missing out on thousands of pounds in financial support. Take action now to ensure you’re not one of them. Whether it’s to ease your heating bills or enjoy a free TV licence, applying for Pension Credit could make a significant difference to your retirement finances.
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