The DWP is to ship out letters to 2,000 individuals of state pension age to induce them to use for Pension Credit as a part of a brand new trial.
Letters and leaflets are going out to individuals of state pension age who're claiming Housing Benefit, and who will doubtless additionally qualify for Pension Credit.
The vastly underclaimed profit tops up a single particular person’s earnings to £201.05 every week and as much as £306.85 every week for couple claimants, and may be value greater than £3,500 a 12 months in funds.
Some 850,000 individuals are regarded as lacking out on the profit, which an individual can declare even when they aren't claiming their state pension.
Alice Guy, head of Pensions and Savings at interactive investor, stated the trial was a “great step in the right direction” in making certain hard-up pensioners get the assist they're entitled to.
She stated: “The average pension credit award is £3,500 each year which is a life-changing amount for poorer pensioners.
“It’s worth applying even if you’ll only get a small amount as it opens the door to other valuable benefits that could make a big difference to your retirement income.”
The ten native authorities the place the letters can be despatched out embrace:
Pensions minister Laura Trott stated: “Pension Credit take-up is at the highest level since 2010, and this trial will help us test even more ways to ensure pensioners are receiving all the support they can.
Pensions minister Laura Trott said: “Pension Credit take-up is at the highest level since 2010, and this trial will help us test even more ways to ensure pensioners are receiving all the support they can.
“Those under pension age can also help by checking in with older loved ones and asking them to consider if they could be eligible for this extra financial support.”
Extra payments are available through Pension Credit reminiscent of if a claimant has a incapacity or caring tasks.
Claiming the profit may entitle an individual to obtain the ultimate two instalments of a £900 value of residing fee going out this monetary 12 months.
People on sure means-tested advantages, together with Universal Credit and Pension Credit, could also be eligible for the funds.
The second fee for £300 goes out in autumn 2023 whereas the third instalment of £299 goes out in spring 2024.
An individual can learn the way a lot Pension Credit they might declare utilizing a calculator tool on the Government web site.
The present full primary state pension is £156.20 every week whereas the total new state pension is £203.85 every week.
For the newest private finance news, observe us on Twitter at @ExpressMoney_.
Please share by clicking this button!
Visit our site and see all other available articles!