Thu Sep 12 08:56:00 UTC 2024: ## Pension Credit: Nearly 78% of Claims Processed Within Target Timeframe, DWP Reports

The Department for Work and Pensions (DWP) has announced that nearly 78% of new Pension Credit claims are processed within the target timeframe of 50 working days. This means that older people on a low income who apply for Pension Credit this month could receive their first payment, including any arrears, by the end of November.

With the looming price cap increase of 10% on October 1st, it’s more important than ever for pensioners to claim all the financial support they are entitled to. Notably, the recent change to eligibility for the Winter Fuel Payment means that around 10 million pensioners will miss out on annual payments unless they are in receipt of an income-related benefit like Pension Credit.

Pension Credit, the most under-claimed benefit specifically designed for older people on low incomes, could provide nearly £4,000 in extra support annually. Despite this, recent data reveals that 880,000 eligible pensioners are not claiming the benefit, often due to misconceptions about eligibility based on savings or home ownership.

**Key points about Pension Credit:**

* **Eligibility:** Individuals must be of State Pension age (currently 66) with a weekly income below the minimum set by the UK Government (£218.15 for singles, £332.95 for couples).
* **Types:** The benefit consists of Guarantee Credit and Savings Credit, with different eligibility criteria and potential amounts.
* **Access to support:** Even an award of £1 per week can unlock access to additional support for housing costs, heating bills, and Council Tax.

The DWP encourages all eligible individuals to use the Pension Credit calculator on GOV.UK to determine their potential benefit amount and complete the application process. This tool provides step-by-step guidance and allows users to print off their answers for easy application completion.

Remember, applications can be backdated for up to three months, so it’s never too late to claim. By utilizing Pension Credit, eligible pensioners can access vital financial support and mitigate the impact of rising costs this winter.

Read More