Pension Credit is a profit that tops up the revenue of individuals of state pension age on low incomes and claimants could also be eligible for a £900 price of residing fee going out in three instalments over this monetary 12 months.

The price of residing fee goes out to individuals on sure means-tested advantages, together with Pension Credit and Universal Credit, and the primary instalment of £301 has been arriving in eligible individuals’s financial institution accounts in current weeks.

If a person applies for Pension Credit and they're profitable in backdating their declare by three months, they are going to nonetheless qualify for the £301 fee.

But an applicant might want to file their declare earlier than May 19 to safe the funds. An individual can apply on-line if they've already put of their declare for his or her state pension.

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There can also be the choice to use over the telephone by calling the Pension Credit declare line on 0800 99 1234.

The second instalment of the price of residing fee of £300 is to exit in autumn 2023 whereas the ultimate fee of £299 goes out in spring 2024.

Pension Credit can increase an individual’s revenue by greater than £3,500 a 12 months. The profit gives a high as much as an individual’s revenue to £201.05 every week for single claimants and as much as £306.85 every week for {couples}.

Claimants can get extra funds relying on their state of affairs comparable to in the event that they look after an grownup.

People on the profit may also entry different technique of Government help, comparable to free TV licences for claimants aged 75 and assist in the direction of healthcare prices.

Martin Lewis urged Britons to check if they can claim Pension Credit forward of the deadline on ITV’s This Morning this week.

He stated: “I have a rule of thumb and my rule of thumb is if you've got a total weekly income of under £220, it is worth checking whether you're entitled to Pension Credit.

“That's what I always say. I don't say you're going to get it. I say that's when it's worth checking. And if you are a pensioner couple with income under £320, it is worth checking.”

The full basic state pension is presently £156.20 every week whereas the total new state pension is £203.85 every week.