Martin Lewis Explains How Retirees Could Get ‘Serious Money’ Through Pension Credit | Personal finance | Finance

Money-saving expert Martin Lewis explained the main benefits of pension credit and how Britons could get support. It comes as the Department for Work and Pensions (DWP) celebrates Pension Credit Action Day.

It is part of a new advertising campaign aimed at encouraging increased take-up of the benefit among pensioners.

The financial expert suggested that pension credit money is essential, especially given the current circumstances.

Many pensioners face skyrocketing energy bills and a state pension that has not kept pace with inflation despite rising 3.1% this year.

Martin said: “In the midst of the cost of living crisis, it is a national tragedy that living for a million pensioners does not benefit from a major increase in their income.

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“My general rule of thumb is: if you (or someone you know) are aged 66 or over and your total income is less than around £200 a week, log on or call the pension credit to see if you qualify for a payment of up to £3,300 a year.

“I’m not saying everyone will have it, but many will, and it only takes a few minutes to find out.

“So don’t delay, call!” »

Martin said Pension Credit not only offered Britons ‘serious money’ but the chance to get other rights such as a free TV license for over 75s and the extra £650 help for energy financing.

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This means Brits can get up to three months of pension credit on their first payment if they were eligible during that time.

There are different ways to claim a pension credit, as Martin pointed out, that suit different circumstances.

The online service is perhaps the simplest and is available on the government website.

It is only available to those who have already applied for their state pension.

Alternatively, Brits can apply themselves by phone, or a friend or family member on their behalf if they cannot use the phone.

The relevant complaints line is 0800 99 1234 or text phone 0800 169 0133 – with other forms of contact available on the government website.

This can be done Monday to Friday from 8 a.m. to 6 p.m.

Britons can also apply for pension credit by post, which involves printing and completing the pension credit application form or calling the line to request a form.

After that, retirees will need to send the application form to the Pensions Department or have someone do it for them.

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Guy Opperman, Minister for Pensions, said: “We recognize the challenges that some pensioners will face with the cost of living, which is why promoting Pension Credit is a priority.

“We’re calling on anyone who has family, friends and loved ones in retirement to check with them and see if they can get this extra financial support, which could make a huge difference in people’s daily lives. “