Martin Lewis has called on Prime Minister Andy Burnham to prioritise improving Pension Credit, a means-tested benefit that provides an average additional income of £3,900 per year, or around £325 a month, for state pensioners. This appeal comes after Mr Burnham announced plans to reform the state pension triple lock to help fund social care.
The triple lock currently guarantees annual pension increases based on the highest of inflation, average earnings, or 2.5%. Mr Burnham has proposed ending this to redirect funds towards creating an NHS-style care service in England. However, Lewis emphasises that fixing Pension Credit must take precedence, as it supports the lowest-earning pensioners by topping up their income to a basic minimum.
Pension Credit is a tax-free benefit available to those of State Pension age with limited income. Unlike the State Pension, it must be actively claimed and ensures recipients receive a guaranteed minimum weekly income. Typical awards exceed £3,900 annually.
READ MORE: Tonight’s Lotto Draw Offers £2 Million Jackpot and Thunderball Results
READ MORE: Gloucester family discovers CCTV camera installed inside their home
Importantly, qualifying for Pension Credit can unlock other forms of financial assistance, such as a free TV licence for those aged 75 and over, council tax reductions, help with NHS dental costs, and assistance with spectacles.
Statistics show that around 900,000 eligible pensioners do not claim Pension Credit, missing out on crucial financial support. The main element, Guarantee Credit, tops up weekly income to £238 for single pensioners and £363.25 for couples.
Lewis has highlighted on his ITV show and social media platform X (formerly Twitter) that many of the poorest pensioners remain unaware or unable to claim the benefit. He advises those of State Pension age with low weekly incomes to check their eligibility - roughly under £238 a week for singles and under £363 a week for couples - and to apply if they qualify.
Applications can be made up to four months before reaching State Pension age, with backdating available for up to three months after applying. Pension Credit claims can be submitted online via the government website or by calling the dedicated claim line.
The benefit also acts as a gateway to additional support, including cost-of-living payments of up to £600, council tax and energy bill discounts, the warm home discount of £150, cold weather payments, free dental care, and vouchers for free spectacles.
By encouraging greater awareness and uptake of Pension Credit, Lewis aims to ensure that those entitled receive the full range of financial help available to them, improving the quality of life for many pensioners across the UK.