Martin Lewis, the founder of Money Saving Expert and popular BBC and ITV presenter, has issued an urgent call to state pensioners to claim a valuable Department for Work and Pensions (DWP) bonus known as Pension Credit. According to recent statistics, around 900,000 eligible pensioners are currently missing out on potentially thousands of pounds in unclaimed benefits.
Pension Credit is a means-tested benefit designed to boost the income of those of state pension age — specifically individuals born before 1960 — whose weekly income falls below certain thresholds. Mr Lewis highlights that while the standard eligibility criteria is a weekly income under £238 for individuals, it can be worth checking eligibility up to £255 per week. For couples, a combined weekly income below £363 typically qualifies, though some may still be eligible with combined earnings up to £380 per week.
Posting on X (formerly Twitter) on April 13, Mr Lewis urged pensioners not to delay: “PENSION CREDIT CAN BE WORTH £1,000s YET 900,000 ELIGIBLE ARE MISSING OUT. Don’t stall, just call (or check online) to see if you’re due it.” Claiming the main part of Pension Credit can unlock additional savings, including discounts on council tax — potentially saving around £1,000 annually — and eligibility for the Warm Home Discount, worth £150 a year.
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Importantly, Pension Credit is not paid automatically; eligible pensioners must actively claim it. The benefit consists of two components: ‘Guarantee Credit,’ which tops up low incomes, and ‘Savings Credit,’ a bonus for pensioners who have managed to save a little extra during their working lives. Claimants can qualify for either one independently, providing flexibility for different financial situations.
Mr Lewis and his team at Money Saving Expert emphasize the importance of checking eligibility and making a claim to avoid missing out on these valuable state pension bonuses.