People who have reached statutory retirement age may be able to claim additional weekly benefits from the Department for Work and Pensions (DWP). The pension credit is issued by the government to retirees who have a lower income.
Pension credit rates have recently increased by 3.1%, as have all benefits in line with the rate of inflation. The state pension has also increased by the same percentage.
This means that people applying for a pension credit could benefit from a more generous weekly amount, reports the Express. The two parts of the pension credit are the guarantee credit and the savings credit.
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Guarantee Credit offers the most support, with the benefit increased by £182.60 if they are single and £278.70 if they have a partner.
The savings loan pays a lower amount to people with higher incomes. People on savings credit can get up to £14.48 a week if they are single and £16.20 a week if they are in a relationship.
Pension credit is only available to individuals who reached statutory retirement age before April 6, 2016. Additional amounts of pension credit may be available to individuals depending on their circumstances.
For example, a person may receive additional support if they are carers, severely disabled or responsible for a child or young person. Pension credit applications can be made online via the Gov.uk website.
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