MARTIN Lewis has issued an urgent warning to 880,000 pensioners who are missing out on a key benefit worth £3,900 a year.
Pension Credit gives people who are over the age of 66 and on a low income extra money to help with their living and housing costs.
The money is paid in addition to the state pension.
Up to 2.2 million people are eligible to claim the cash, which also entitles them to a host of other vital perks, including the Winter Fuel Payment.
Writing in this week’s MoneySavingExpert (MSE) newsletter, Martin said: “The Government’s cut Winter Fuel Payments for millions of pensioners. Now, only the poorest, those on pension credit, will get them.
“Yet 880,000 who are due it don’t claim.”
It is essential that those who are entitled to Pension Credit make a claim this year.
This is because in July the Government announced that only those who claim Pension Credit will receive the Winter Fuel Allowance, which is worth up to £300 a year.
Pension Credit opens the door to a host of other benefits, such as Cost of Living Payments, Council Tax discounts and the Warm Home Discount Scheme.
Those who claim are also entitled to a free TV licence, help with NHS dental treatment and glasses.
Pension Credit comes in two parts, Guarantee Credit and Savings Credit, and you may be eligible for one or both parts.
Guaranteed Credit tops up your weekly income to a guaranteed minimum level.
For single people this is £218.15, while couples could get £332.95.
Income includes money from work, your pension, state pension and some social security benefits.
If your weekly income is below these levels then you may be able to claim.
SOME people will receive thousands of pounds once they claim Pension Credit, while others will be given just pennies.
But it is still worth making a claim either way as it opens the door to more financial help.
Once you claim Pension Credit you may receive:
But if your income is higher than these thresholds then you may still be able to claim if you fall into one of four categories.
These include if you are a carer, have a severe disability, have certain housing costs, such as service charges, or are responsible for a child or young person who usually lives with you.
Savings credit is extra money if you already have some savings or your income is higher than the basic state pension.
It is only available to people who reached state pension age before April 6, 2016.
You could get up to £17.01 extra per week if you are single or £19.04 if you are in a couple.
There is no savings limit for Pension Credit but if you have a nest egg of more than £10,000 then this will affect how much you receive.
If your partner is not yet over the state pension age then you may still qualify for the Winter Fuel Payment if you claim for Universal Credit.
You can make a claim online at gov.uk/pension-credit or over the phone by calling 0800 99 1234.
To claim you will need your National Insurance number, information about any income, savings or investments you have and your bank details.
You can begin your application up to four months before you reach State Pension age.
Once you pass this age you can apply at any time but your application can only be backdated by three months.
Even if you do not think you are eligible it may still be worth checking as some people getting more than the full state pension may still qualify because they receive certain benefits.
If your earnings were just over the margin last time you checked you may be eligible now as in April the Pension threshold was boosted by 8.5%.
Meanwhile, if you have taken on new childcare or caring responsibilities you should recheck whether you can claim.
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