State pensioners on low incomes who are caring for children or vulnerable young people may be eligible to receive an additional weekly payment of £69.98, an increase from the previous £67.42, starting April 6. Over the course of a year, this could amount to an extra £3,638.96 on top of their existing Pension Credit entitlement.
Pension Credit is a means-tested benefit designed to boost weekly income for individuals over the State Pension age with low household earnings. The exact amount received depends on total household income and savings. For single claimants, Pension Credit guarantees a weekly income of at least £227.10, while for couples, it ensures a combined weekly income of £346.60.
Those with caregiving responsibilities, such as looking after a child or young person under the age of 20 who lives with them, may qualify for additional Guarantee Credit payments. The benefit takes into account various income sources including State Pension, work or private pensions, employment earnings, self-employment income, and other social security benefits like Employment and Support Allowance or Working Tax Credit. Savings or capital above £10,000 are also factored into the calculation.
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Applicants must include both themselves and their partners in the claim, providing details such as National Insurance numbers, income, pensions, and savings history for the previous three months. Applications for Pension Credit can be made online via GOV.UK.