UK state pension: Britons may miss out on pension credit payments – eligibility | Personal finance | Finance

The statutory retirement age has recently changed, meaning that for most it is set at the new age of 66. However, for some, the state pension has been claimed for years, providing support for the elderly in retirement. The state pension is based on the number of national insurance contributions a person has paid throughout their lifetime.

Singles eligible for Guarantee Credit can expect a weekly top-up of up to £173.75 and for Savings Credit up to £13.97 per week.

Couples will receive an additional up to £265.20 per week on Guarantee Credit and up to £15.62 per week on Savings Credit.

But the real problem is the lack of participation in pension credit.

Recent statistics released by the DWP showed that up to a million families eligible for pension credit have not claimed the sum.

There are also other additional benefits to applying for pension credit that could be helpful in various areas of life.

Recipients of Pension Credit are unlikely to have to pay council tax, and they will also receive free NHS dental care.

Tenants may be able to get their rent paid in full through Housing Benefit, and landlords may receive help with mortgage interest.

There are a number of reasons why people do not apply for pension credit.

Independent Age, the charity for older people, said issues such as lack of awareness, the stigma of receiving a benefit and not understanding if one is eligible can all be barriers to receipt of a sum to which a person is entitled.

Britons still need to check their eligibility and can do so, as well as claim the sum, on the government website.