Martin Lewis warns 800,000 pensioners are missing out on up to £3,300 cash boost

Hundreds of thousands of pensioners could be receiving up to £3,300 a year but haven’t claimed the cash, says Martin Lewis. The MoneySavingExpert founder urged all state pensioners to check if they are eligible for the cash boost, while speaking on the final episode of the ITV series Martin Lewis Money Show Live. Pension Credit is a top-up benefit provided by the Department for Work and Pension (DWP) for low-income state pensioners. But around 800,000 people are missing out, reports The Express. Because Pension Credit payouts rise in line with inflation , Mr Lewis told viewers the pension top-up could be worth around £3,500 a year next April. He said: “Really important if you’re a state pensioner and you’re single and you have earnings under £200 a week, or you’re a couple and you earn under £300 a week, then go onto GOV.UK and see if you’re eligible for Pension Credit. Universal Credit and other benefit payments date are changing for some people this month Mr Lewis urged anyone who receives a state pension to check if they’re eligible ( Image: Getty Images) “Or if you don’t like the internet, call the Pension Credit hotline.” The number to call is 0800 99 1234. Mr Lewis explained that the figures of £200 and £300 a week were chosen for specific reasons and incorporates a person’s savings as well. This means that not everyone who earns under those figures will be eligible. He said: “I’m not saying everybody who earns under that will get it, what I’m saying is everyone who earns under this should check to see if they can get it.” Mr Lewis further explained how not only could the benefit top up an income by thousands, but it can also be a “gateway” to further financial support. This includes money off council tax, water and even a way to get a free TV Licence if someone is over 75 years old. He said: “It’s incredibly important and there are 800,000 people missing out. Mr Lewis, 50, added, while joking about his age: “If you are as young as me in your early thirties and you think it is not relevant to you, then think of someone you know. “Think of someone who it could be relevant to and tell them because they might not be watching the show.” Earlier this year, Mr Lewis worked with the Government on the DWP’s second annual Pension Credit “day of action” on June 15. Mr Lewis said it was “not often” he agrees to team up with the UK Government on a campaign however he was “very happy” to offer assistance for this campaign. The cash boost is worth up to £3,300 ( Image: Getty Images/Science Photo Library RF) In a statement, he said: “It’s a national tragedy that getting on for a million pensioners, many of whom have been paying into the system for years, are missing out on a major income boost.” The Day of Action also saw charities, stakeholders, broadcasters and a whole range of partners getting involved to encourage people to claim. Due to this campaign, the DWP saw over 10,000 Pension Credit claims that week, which was an increase of 275% from the year before. To check if they are eligible, people can also use the Government’s Pension Credit calculator. This can let them know if they’re likely to be eligible and get an estimate of what they may receive. To use the calculator, people will need to have details on their earnings, benefits and pensions, and savings and investments. People will also need the same details for their partner if they have one. You can find out more about Pension Credit on the government’s website here. Read More Brits could save hundreds of pounds by delaying their Christmas lights switch on Read More Woman saves £800 per month in bills by moving into converted van for road trip Read More British Gas to pay households up to £100 to cut energy use at peak times Read More Thousands of families can claim grants of up to £1,200 to help pay their bills

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Published on : 2022-12-03 07:00:00

Source :mirroruk

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