Martin Lewis urges single and married people on State Pension to check for £3,500 income boost
dailyrecord.co.ukMartin Lewis is back from Spring Break with a bumper list of ways to boost State, personal and workplace pension pots in the latest edition of the MoneySavingExpert.com (MSE.com) newsletter.
The handy guide aims to help people of all ages increase their later-life income to maximise their retirement finances. But it’s not all about people due to retire in 10, 20 or even 30 years or more, the consumer champion had an easy way for people already claiming their State Pension - a contributory benefit administered by the Department for Work and Pensions (DWP) - to check if they are eligible for Pension Credit, which could also unlock discounts on Council Tax, housing costs and heating bills.The benefit is worth more than £3,500 a year on average and Martin urged single pensioners with an income of less than £220 a week or older couples with under £320 a week, to check if they qualify for the benefit.Writing in the MSE.com newsletter, he said: ‘Nearly a million pensioners are missing out on Pension Credit, a vital benefit worth £1,000s a year for many, which tops up your income.”And for those that think it might not be worth claiming as they won’t qualify for much financial support, Martin said: “Even if you'd only get a quid or two, I call Pension Credit a 'gateway benefit' as it opens the door to a whole host of other payments too such as cost of living support, Council Tax Reductions, free TV licences (for over-75s0 and more which can be worth thousands.” He urged people to read the full help guide on MSE.com here.
People can quickly check their eligibility for Pension Credit using the online calculator or by calling the Pension Credit helpline on 0800 99 1234.
Read more on dailyrecord.co.uk