Martin Lewis warns ‘one million pensioners’ miss out on £3,500 a year

Personal finance expert Martin Lewis made a plea for people to check if they can claim Pension Credit as this could be the gateway to receiving many other benefits such as discounts on broadband, council tax and housing costs.

On Martin’s Wallet Wednesday segment on Good Morning Britain this morning, the money-saving expert answered Ash’s question about receiving discounts on her broadband.

Ash explained she is a pensioner on the state pension but is looking for financial help on bills.

Mr Lewis said: “One million state pensioners in the UK are eligible for Pension Credit but don’t claim it.

“It’s an absolute tragedy, they’ve paid into the system for all their lives and they’re not getting this important top-up.

“Those eligible for Pension Credit can also get the £301 cost of living payments by the Government.

“People have until May 19 to claim Pension Credit and get the £301 cost of living credit.

“So simply by claiming Pension Credit, even if you get a small amount, you can get the £301 payment.”

‌Pension Credit is a top-up benefit that helps those of state pension age who are not getting enough income.

The money-saving expert explained the average payment is £3,500 a year.‌

Even if someone was due 50 pence from Pension Credit, it is a “crucial gateway benefit” as it can offer many other freebies and discounts.

Mr Lewis stated: “I call it a superpower.”

‌If someone gets Pension Credit they can also get other help, such as:

• Housing Benefit if they rent the property they live in
• Cost of Living Payments
• Support for Mortgage Interest if they own the property they live in
• A Council Tax discount
• A free TV licence if they’re aged 75 or over
• Help with NHS dental treatment, glasses and transport costs for hospital appointments, if they get a certain type of Pension Credit
• Help with their heating costs through the Warm Home Discount Scheme
• A discount on the Royal Mail redirection service if they’re moving house

Individuals must live in England, Scotland or Wales and have reached state pension age to qualify for Pension Credit.

When applying for Pension Credit, a person’s income is calculated. If they have a partner, their income is calculated together.

Pension Credit tops up:

• Their weekly income to £201.05 if they’re single
• Their joint weekly income to £306.85 if they have a partner

If their income is higher, they might still be eligible for Pension Credit if they have a disability, they care for someone, they have savings or they have housing costs.

Income includes state pension, other pensions, earnings from employment and self-employment and most social security benefits, for example, Carer’s Allowance. It should be noted not all benefits are counted as income.