09 May 2023
If you are covering the looming deadline for low income pensioners to apply for Pension Credits, please see the following comment from Jon Greer, head of retirement policy at Quilter:
"It’s key that pensioners on low incomes check their eligibility for pension credit, if they haven’t already, as the deadline for application looms. Unfortunately, for lots of reasons many pensioners miss out on claiming pension credits whether it’s because of a lack of awareness or a feeling that they won’t be eligible so they don’t bother. However, if missed, eligible pensioners miss out on a significant boost to their retirement income and also cost of living payments.
"The importance of claiming this credit if eligible cannot be overstated, especially considering the financial challenges that many households across the country are currently facing. Pensioners have just 10 days left to claim pension credit, which will also then mean they qualify for the latest £301 cost of living payment, which will be transferred directly to their bank accounts.
"Pension credit not only guarantees a minimum income - £201.05 per week for single pensioners and £306.85 for couples - but also opens the door to a variety of other benefits. These include help with housing costs, council tax, and heating bills, in addition to the extra cost-of-living payments that could total up to £900 this financial year.
"For those unsure about their eligibility, an online pension credit calculator is available to provide an estimate of potential benefits. Applying is simple and can be done through various methods, including filling out a form online, printing and completing a paper form, or calling 0800 99 1234."
