Martin Lewis has issued a crucial warning as the deadline for Winter Fuel Payment approaches. The founder of MoneySavingExpert.com explained that time is running out for thousands of pensioners to verify their eligibility for Pension Credit, which triggers the Winter Fuel Payment.
Pension Credit can be backdated by three months and today is the last day to apply by phone, or tomorrow if you're applying online, to submit a claim for Pension Credit and still receive a Winter Fuel Payment for this year. In a video shared on social media, Martin Lewis warned that 700,000 people could be missing out on Pension Credit.
He stated: "I'd urgently suggest any state pensioners on lower income check now if you're eligible for Pension Credit, which is a top-up to your income worth typically £4,000 a year. Do it now, you'll also get the Winter Fuel Payment."
He further clarified: "As for what a lower income is, well if you're a single pensioner, I'd be checking if I had an income under a total of £235 a week. I'm not saying you'll get it - I'm saying it's worth checking at that level. Same if you're a couple, both state pensioners, income under around £350 a week. But if you get Attendance Allowance or you have very high housing costs, you may still be eligible on income higher than that."
Pension Credit is a benefit that boosts your weekly income and, in addition to unlocking the Winter Fuel Payment, it also entitles you to other financial help. This includes free dental treatment, vouchers for glasses or contact lenses, and a free TV licence if you're over 75, reports the Mirror.
The primary component of Pension Credit is known as "Guarantee Credit", which tops up your weekly income to £218.15 if you're single, or £332.95 if you're part of a couple. As Martin explained, even if your income is above these amounts, you might still be able to claim if you have a disability, are a carer, or have high housing costs.
If you reached state pension age before April 6, 2016, or have savings or a second pension, you may be eligible for the savings credit element of Pension Credit. This is worth £17.01 a week if you're single, or £19.04 a week if you're in a couple.
You can apply for Pension Credit on GOV. UK, by calling 0800 99 1234, or by printing out and filling in a paper application form.
Applications can be made up to four months before you reach state pension age.