Wed Sep 18 13:36:59 UTC 2024: ## Pension Credit: A “MoneySavingExpert” Reader Shares Her Success Story and Highlights Potential Savings

**Liverpool, UK** – A follower of the popular financial advice platform “MoneySavingExpert” has shared a success story that highlights the potential benefits of claiming Pension Credit. After reading advice from the platform’s newsletter, the reader, “Lucinda,” helped her mother secure the government benefit, despite initially believing she wouldn’t be eligible.

“I saw Martin’s email saying ‘If you’re only just over, try it anyway,'” Lucinda explained. After a phone call to the Department for Work and Pensions (DWP), her mother was approved for Pension Credit. This comes as a welcome relief for Lucinda’s mother, who is facing financial hardship following the death of her husband earlier this year.

While an estimated 2.2 million people qualify for Pension Credit, “MoneySavingExpert” believes that 880,000 are missing out on the potential benefit of an average £75 per week (£3,900 per year). The platform emphasizes the importance of claiming, especially for vulnerable individuals who could be missing out on a crucial source of income.

Pension Credit is divided into two parts: Guarantee Credit, which tops up income to a guaranteed minimum level, and Savings Credit, which is available to those who reached State Pension age before April 6, 2016, and have some savings or income above the basic State Pension.

AgeUK, a charity dedicated to supporting older people, advises that there is no savings limit for Pension Credit, but savings exceeding £10,000 can affect the amount received.

To apply for Pension Credit, individuals can visit GOV.UK or call 0800 99 1234 between 8am and 6pm, Monday to Friday. They will need their National Insurance number and financial details.

The government is also collaborating with local authorities to link Housing Benefit and Pension Credit, potentially encouraging eligible individuals to apply for both benefits.

“MoneySavingExpert” encourages individuals to join their WhatsApp channel for further financial advice and savings tips.

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