The pension credit gives eligible applicants additional money to help cover their living costs if they are past retirement age and have a low income. When the money is awarded, applicants will need to keep the government informed of any changes in their circumstances.
This includes changes in the circumstances of applicants as well as their partners.
It is important to report these changes quickly and accurately as the claim can be stopped or reduced if this is not done.
It is important to note that a claimant may be sued or have to pay a penalty if they give incorrect information or fail to report a change in their circumstances.
Changes that should be reported include moving to a new address, starting or stopping work, and hospitalization, among others.
To report a change, applicants can call the Pensions Service Hotline on 0800 731 0469.
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These rates and levels of support will increase over the next few months. Recently, the DWP confirmed benefit payments will increase 3.1% in April, in accordance with the Consumer Price Index (CPI).
This means that from April 2022 single applicants will receive £ 182.66 while coupled applicants will receive £ 278.70.
Dr Thérèse Coffey, Secretary of State for Work and Pensions, confirmed a number of benefit changes in November.
She said: “I have completed my statutory annual review of state benefit and retirement rates. The new rates will apply in the 2022/23 tax year and take effect April 11. 2022.
“The Consumer Price Index (CPI) for the relevant base period (the year to September 2021) was 3.1%, and I can confirm that the benefits will increase accordingly.
“This is consistent with the use of this index since 2011. The weekly earnings limit in the care allowance will also be increased by 3.1%.
“In accordance with the 2021 Social Security (Benefit Adjustment) Act, state pension rates will increase in line with the CPI of 3.1%.
“I also confirm that the local housing allowance rates for 2022/23 will be maintained at the high cash rates agreed to for 2020/21.”
Claims for pension credit can be made up to four months before a person reaches the statutory retirement age.
Retirees can apply for a pension credit at any time after reaching the statutory retirement age, but their request can only be backdated by a maximum of three months.
This means that applicants can get up to three months of pension credit on their first payment if they were eligible during that time.
Pension credit applications can be made online at the government website or by phone.
When applying, applicants will need to have certain information, such as their national insurance number and financial information.