Hundreds of thousands of older people living by themselves could be in line for a significant financial boost from the Department for Work and Pensions (DWP).
Millions of Older People Living Solo
Official figures reveal that in 2021, around 3.3 million people aged 65 and over were living alone in England and Wales. For many, managing on a fixed income presents a daily challenge, but a key benefit exists to provide crucial extra help.
Pension Credit, often described as the UK's most under-claimed benefit, is designed to top up the income of older individuals and couples on a low income. Currently, nearly 1.4 million pensioners across the UK receive this means-tested support. For those who are eligible, it could mean an average of £4,300 in additional financial assistance in the coming months.
Understanding the Two Types of Pension Credit
There are two distinct elements to Pension Credit: Guarantee Credit and Savings Credit.
Guarantee Credit tops up your weekly income if it is below a certain threshold. To qualify, you must have reached the State Pension age, which is currently 66. The Government sets a minimum weekly income level it deems necessary for living.
This is currently:
- £227.10 for a single person
- £346.60 for a couple
These amounts can be higher if you have a disability, are a carer, or have specific housing costs.
Savings Credit is an extra payment for those who have made some provision towards their retirement, like savings or a private pension. You can only qualify for this if you (or your partner if you have one) reached State Pension age before 6 April 2016. The qualifying income levels for Savings Credit are at least £198.27 weekly for a single person and £314.34 for a couple.
How to Claim Your Entitlement
Checking eligibility and applying for Pension Credit has been made straightforward. Older people, or their friends and family, can use the official online Pension Credit calculator on GOV.UK to get a quick estimate of what they might receive.
Claims can be made in several ways:
- Online via the GOV.UK website.
- By telephone on the Pension Credit claim line: 0800 99 1234 (Monday to Friday, 8am to 6pm).
- By completing and posting a paper application form.
Pension Credit is available to those who have reached state pension age and live in England, Scotland, or Wales. With a potential £4,300 average boost available, experts are urging all eligible pensioners, particularly those living alone, to check their entitlement without delay.
