Thousands of pensioners across the UK are set to receive an additional £4,152 annually on top of their state pensions, thanks to an update in Department for Work and Pensions (DWP) rules. The changes include higher Pension Credit rates, which aim to provide financial relief to those on low incomes.
Pension Credit Increase – What’s Changing?
The Pension Credit Standard Minimum Guarantee will rise for both single claimants and couples, ensuring additional financial support for pensioners. The key updates include:
- Single pensioners: Weekly increase from £218.15 to £227.10 (£8.95 extra per week)
- Couples: Weekly increase from £332.95 to £346.60 (£13.65 extra per week)
- Annual boost: Eligible claimants could receive an additional £4,152 per year
State Pension Increases
In addition to Pension Credit increases, the State Pension will also rise:
- Full basic state pension: Increasing from £169.50 to £176.45 per week (£6.95 extra per week)
- Full new state pension: Rising from £221.20 to £230.25 per week (£9.05 extra per week)
Who Can Claim Pension Credit?
Pension Credit is a benefit designed to help pensioners with low incomes by providing additional financial support. It can also help cover housing costs, such as ground rent and service charges.
However, many eligible pensioners fail to claim this benefit. Government estimates indicate that approximately 760,000 pensioner households did not claim Pension Credit between April 2022 and March 2023, making it one of the most underclaimed benefits in the UK.
Government’s Commitment to Pensioner Support
Speaking on the issue, Secretary of State for Work and Pensions Liz Kendall said:
“I’m delighted we’ve been able to reach so many pensioners who need to be on Pension Credit, which can be a lifeline for those on low incomes.”
She further emphasized the government’s commitment to supporting pensioners, highlighting efforts such as:
- Ongoing Pension Credit awareness campaigns
- Extending the Household Support Fund
- Upholding the Triple Lock on State Pension
These initiatives aim to ensure that every pensioner receives the financial support they are entitled to.
The increase in Pension Credit and State Pension rates is welcome news for pensioners struggling with rising living costs. However, the fact that hundreds of thousands of eligible pensioners are not claiming Pension Credit highlights the need for greater awareness. If you or someone you know could be eligible, it’s worth checking and applying to receive the full benefits available.
FAQ’s
How much is Pension Credit increasing by?
The Pension Credit Standard Minimum Guarantee is increasing from £218.15 to £227.10 per week for single claimants and from £332.95 to £346.60 per week for couples.
How much extra will Pension Credit claimants receive annually?
Pension Credit claimants could receive up to £4,152 extra per year due to the increased rates set by the Department for Work and Pensions (DWP).
What are the new State Pension rates?
The full basic state pension will rise from £169.50 to £176.45 per week, while the full new state pension will increase from £221.20 to £230.25 per week.
Who is eligible for Pension Credit?
Pension Credit is available to pensioners on low incomes and can also help with housing costs, such as ground rent and service charges.
How many pensioners are missing out on Pension Credit?
An estimated 760,000 eligible pensioner households did not claim Pension Credit between April 2022 and March 2023, making it one of the most underclaimed benefits in the UK.
Need more to coup with infation
Few more pounds not going to really help the poor vonourable peaple
I am trying to find a form for myself to register S I have Arthritis in both knees and my hands how do I register to see if I qualify.Jamed Rosser