September 15th 2023.
Martin Lewis, founder of the Money Saving Expert website, recently urged pensioners to check if they are missing out on a yearly top-up worth on average £3,500. According to Martin, around 800,000 pensioner households aren't claiming the Pension Credit that they are entitled to.
Pension Credit is available to those of pension age who are on a low income - classed as someone on less than around £220 a week or if you are a couple, under around £320. Martin believes that Pension Credit should be automatic so that everyone eligible benefits, and this could lift thousands of older people out of poverty.
During his weekly appearance on BBC Radio 5 Live, Martin said, "If you make the argument to get rid of the Triple Lock and don't want to put pensions up by that much, well, there's an argument that says lots of wealthy people are getting this, why should everybody or the taxpayer be contributing to their huge uprating. I would say the most important thing is we stop the 800,000 people who aren't claiming Pension Credit. We should work a lot harder and automate the fact that people who are due Pension Credit - those are the lowest income pensioners - get their Pension Credit, that should be our priority."
Martin also urged people to help older members of their community to get the benefits they are entitled to, as the average Pension Credit works out as £3,500 a year. Those receiving Pension Credit may also be eligible for other cost-of-living payments, help with housing costs, Council Tax, heating bills, and for those aged 75 or over, a free TV licence.
If you think you or someone you know should be claiming Pension Credit, you can use the online Pension Credit calculator on GOV.UK or call the Pension Credit helpline on 0800 99 1234 - lines are open 8am to 6pm, Monday to Friday. It's important to make sure you're not missing out on any benefits you may be entitled to.
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