State pensioners may be entitled to top-up worth £63 extra per week | Personal Finance | Finance
People over state pension age who are on a low income may be entitled to Pension Credit. The vastly underclaimed benefit is designed to help people with their living costs, many of which have spiralled due to the current challenges.
Although separate from the state pension, Pension Credit can provide an additional layer of financial support.
According to the Department for Work and Pensions (DWP), Pension Credit can be worth some £3,300 per year.
That is approximately £63 per week in extra support which could go a long way to helping with everyday costs.
People could get Pension Credit even if they have other income, savings or their own home.
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For those with a partner, the amount rises to £16.20 per week.
Pensioners may still get some Savings Credit, even if they are not eligible for Guarantee Credit.
People can start their application for Pension Credit up to four months before they reach state pension age.
Individuals can apply any time after they reach state pension age.
However, their application can only be backdated by three months.
The DWP adds: “This means you can get up to three months of Pension Credit in your first payment if you were eligible during that time.”
Pensioners will need the following information to hand to support their claim:
- National Insurance number
- Information about any income, savings and investments
- Information about income, savings and investments on the date people want to backdate their application to.
Individuals will also need their bank account details.
Depending on how the application is made, people may also be asked for their bank or building society name, sort code or account number.
Pension Credit can be applied for online, by phone or by post.
