Published On: Mon, Apr 8th, 2024

DWP pension warning issued as new update shows you could be missing out on £218 a week | Personal Finance | Finance

The Department for Work and Pensions has issued a warning that thousands could be missing out on more than £500 a month.

The DWP issued a warning that many could be missing out on Pension Credit, a non-taxable benefit for people past the State Pension age.

The credit tops up pensioners’ weekly income to a maximum of £218.15 for singles, rising to £332.95 for couples.

Nearly 1.4 million pensioners are currently claiming the benefit which helps with heating bills and housing costs.

According to the Office for Budget Responsibility 880,000 pensioners are eligible for the credit but are missing out on the passport benefit that provides an average £3,900 a year.

The State Pension rose in April which led the DWP to release an advisory directing pensioners to access the benefit.

The advisory said: “With pension credit you could get additional financial help, plus other support including a free TV Licence for over 75s.

“When you apply for pension credit your income is calculated. If you have a partner, your income is calculated together.

“If your income is higher, you might still be eligible for pension credit if you have a disability, you care for someone, you have savings or you have housing costs.”

The update on the non-taxable benefit comes as pensioners are finding themselves dragged into HMRC’s net and asked to pay tax, some for the first time in their lives.

If you feel you are eligible for Pension Credit but are not claiming it you can check using the online Pension Credit calculator or contact the Pension Credit helpline at 0800 99 1234.

If you are currently claiming Pension Credit or are entitled to it then you may also be eligible for further support and benefits.

These benefits include mortgage payments, a free TV licence for over 75s, NHS dental help, help with heating costs and a discount on Council Tax.

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