Married couples over State Pension age could be due weekly income boost of up to £306 from April
31.03.2023 - 13:13
/ dailyrecord.co.uk
State Pension payments are set to increase by 10.1 per cent from April for some 12.6million people across Great Britain, including 992,052 living in Scotland. However, despite a record-breaking rise in payments of the contributory benefit, it is estimated that around 1.8 million pensioners are receiving less than £100 per week in State Pension payments.
There are 9.7million older people receiving Basic State Pension payments of up to £141.85 per week (rising to £156.20 in April), compared to 2.9million getting the New State Pension, which is worth up to £185.15 each week (rising to £203.85 in April).
Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown warns at least some of those on the lowest State Pension payments could be missing out on Pension Credit, a benefit delivered by the Department for Work and Pensions (DWP) which is worth more than £3,500 each year in financial support, discounts and other benefits which could increase their income.
Pension Credit could provide financial help to married couples who have a combined weekly income of less than £300, or people living on their own with an income of less than £200 per week.
Ms Morrissey explained: “Many people do not receive anywhere near the full amount of State Pension and there are currently 1.8m people receiving less than £100 per week. The vast majority of these are women who have accrued large gaps in their National Insurance contribution history due to time taken away from the workforce to care for family.”
She added: “Many of these people may well have other sources of income to see them through retirement but for those who don’t, life can be a real financial struggle.”
Pension Credit is a hugely under-claimed means-tested benefit
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