In retirement, any extra income can go a long way to helping with the cost of living. The money saving expert urged Britons to consider applying for Pension Credit.
Pension Credit is a benefit available to people who are over state pension age and are on a lower income.
The state pension age is currently 66 in the UK for both men and women.
Speaking on ‘The Martin Lewis Money Show Live’, Mr Lewis explained the benefits of Pension Credit for those who are eligible.
He said: “There are over a million who are state pension age missing out on pension credit. If that’s you, think about it, if you know someone, talk to them.
Other benefits which may be available to Pension Credit claimants include:
- Housing Benefit for those who rent the property they live in
- Support for Mortgage Interest for those who own the property they live in
- Help with NHS dental treatment, glasses and transport costs for hospital appointments
Pension Credit is means-tested, so an applicant’s income will be assessed to determine their eligibility.
How to apply
Britons looking to claim Pension Credit can do so via the Government website, or by calling the claim line on 0800 99 1234.
It is also possible to apply by post by sending a claim form to the Pension Service.
Claims can be started up to four months before someone reaches state pension age, and can be backdated for three months.
The Martin Lewis Money Show continues next Thursday on ITV at 8.30pm.