Wednesday, January 19, 2022
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Pensioners could get £9,000 income top up plus other benefits in 2022 | Personal Finance | Finance

Many people will be entering the new year with money worries, and this can be especially true of older people who may not have as much financial flexibility due to a lower monthly income than those who are in work. Through Pension Credit, retirees could get the help they need and get their finances back on track in 2022.

Couples can get their income topped up to a combined £270.30 per week.

It also opens the door to a number of other benefits which pensioners could gain access to.

People who rent the home they live in may be able to receive Housing Benefit, while those who own their home could get Support for Mortgage Interest (SMI).

They may be able to get Council Tax reductions, with Britons potentially eligible for a full 100 percent reduction in their Council Tax.

Those receiving Pension Credit who are over the age of 75 are also automatically entitled to a free TV Licence, which would save them £159 per year.

Help with NHS dental treatments, glasses and transport costs for hospital appointments is also available.

Pension Credit also entitles Britons to certain winter benefits which could reduce their heating bills and help them keep warm during the colder months.

Pensioners who get Pension Credit are eligible for the Warm Home Discount Scheme, which provides a £140 discount on electricity bills once a year, as well as the Cold Weather Payment, which is paid out when temperatures drop below a certain level.

Claiming Pension Credit

The Pension Credit application can be done online, provided the applicant has already applied for their state pension and there are no children or young people included as part of the application.

Applications can be done up to four months before someone reaches state pension age, meaning they will not have to wait around for their money once they become eligible.

For people who are already state pension age and have not claimed yet, the application can be backdated for up to three months to maximise the amount of Pension Credit received.

Applicants will need their National Insurance number, and must also provide information about the income, savings and investments they have.

This is so a calculation can be done to determine a person’s eligibility for Pension Credit.


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