This page is frequently updated with the very latest Pension Credit news and updates, please check back regularly to find out the latest developments that could impact you.
Has there been any recent Pension Credit news?
Pension Credit is an important but often little known benefit for people over the State Pension age. It’s essential that those that are eligible or are already claiming this benefit are aware of the latest Pension Credit news and how it impacts them.
The latest update is that Pension Credit rates have increased by 8.5% in April 2024, in line with the increase in State Pension. The next increase in Pension Credit is not due until April 2025.
Over 1.4 million people over the State Pension age currently receive Pension Credit. However, there is still an estimated 900,000 households eligible for Pension Credit who are yet to claim it. Keep reading below to see if you’re eligible.
What is Pension Credit?
Simply, Pension Credit is a benefit for anyone over the State Pension age (currently 66 in the UK) provided by the Government, which gives you extra money to help with day to day living costs. The eligibility criteria are:
- You must live in England, Scotland or Wales
- If you live with a partner, they must also be over the State Pension age and you must include them on your Pension Credit application
- Your weekly income needs to be less than £218.15 if you’re single or £332.95 as a couple if you’re living with a partner
If your income is higher than this level, you could still be eligible if you have a severe disability, care for someone else or are responsible for paying housing costs (e.g. a mortgage). Check the full eligibility criteria here.
How to apply for Pension Credit
You can start an application for Pension Credit at any time, from up to 4 months before you reach State Pension age. Before you apply, you will need the following information for you and your partner (if you have one):
- National Insurance Number
- Details about your household income and any savings or investments
- Your bank or building society details
You can either:
- Apply Online here
- Call the Pension Credit claim line on 0800 99 1234 (open between 8am and 6pm, Mon to Fri)
- Apply by post – print the Pension Credit claim form here and send to:
The Pension Service 8
Post Handling Site B
Wolverhampton
WV99 1AN
If you need help at any time, ask a friend or family member to assist. People can also check their eligibility with the help of a friendly local charity such as Citizens Advice, who will be up to date with the latest Pension Credit news and can help you apply.
What you get if you’re eligible for Pension Credit
Pension Credit is essentially a ‘top-up’, which increases your weekly income to £218.15 if you’re single or £332.95 for you and your partner combined if living as a couple. This is called ‘Guarantee Credit’. Recent Pension Credit news indicates you may receive more than this if any of the following apply to you:
- You have a severe disability
- You and / or your partner care for another adult
- You’re responsible for someone under the age of 20
- You have savings or a personal or workplace Pension
Take a look at the Government website to see how much extra you could be entitled to.
You could save money on health and housing costs too!
Once you start receiving Pension Credit, you will also be eligible for other cost of living payments or discounts:
- Free NHS prescriptions, dental treatment, eye tests and help with other regular NHS costs. Check what you’re entitled to here
- A free TV license (if you’re aged 75 and over)
- Automatic Cold Weather Payments, amounting to £25 for each 7 day period of very cold weather between 1st November 2024 and 31st March 2025
- Discounts on your Council Tax bill, you can apply for a reduction here
- Extra support to cover housing costs or mortgage interest if you own the property you live in
As you can see, it is important to keep up to date with the latest Pension Credit news. Although the eligibility criteria for Pension Credit may seem daunting and confusing at first, it is well worth looking into due to the significant potential financial benefits available.
The Pension Credit element is administered by the Department for Work and Pensions (DWP), who also manage Universal Credit (similar to Tax Credit) and other means tested benefits. We would encourage all low income pensioners reading about Pension Credit to check their eligibility.
Have you found some Pension Credit news which we’ve missed? Let us know in the comments below!
