£4,200 Income Boost for Women: The UK’s new Pensions Minister is urging low-income pensioners and WASPI women (Women Against State Pension Inequality Campaign)—women born in the 1950s impacted by State Pension age changes—to check if they qualify for Pension Credit. This benefit could increase their annual income by an average of £4,200.
The push comes after Labour MP Euan Stainbank questioned the Department for Work and Pensions (DWP) on how Pension Credit helps tackle financial hardship among older people, particularly 1950s-born women affected by pension reforms.
What Is Pension Credit and Who Can Claim It?
Pension Credit is a means-tested benefit designed to help low-income pensioners by ensuring a minimum income level. It provides a weekly income boost to those who qualify.
As of April 7, 2024, the Standard Minimum Guarantee (SMG) will increase by 4.1%, raising the guaranteed income threshold to:
- £227.10 per week for single pensioners (up from £218.15).
- £346.60 per week for pensioner couples (up from £332.95).
Who Is Eligible for Pension Credit?
You may qualify for Pension Credit if:
- You are a single pensioner with a weekly income below £227.10.
- You are a couple with a combined weekly income below £346.60.
- You live in the UK and have reached State Pension age.
Why Pension Credit Matters
Many retirees miss out on the financial support they’re entitled to. Reports reveal that 760,000 older people aren’t claiming the Pension Credit they’re eligible for. Even a small claim of £1 per week can unlock extra benefits such as:
- Help with housing costs (including rent support).
- Council Tax reduction.
- Cold Weather Payments during winter.
- A free TV licence for over-75s.
Government’s Commitment to Supporting Pensioners
The DWP has reiterated its commitment to helping pensioners live with dignity and financial security.
Pensions Minister Torsten Bell emphasized the government’s ongoing efforts to raise awareness and boost Pension Credit applications.
Since September, a campaign has been running to encourage pensioners—especially WASPI women—to check their eligibility.
DWP Minister’s Statement
Torsten Bell, in response to concerns raised in Parliament, stated:
“The Government is absolutely committed to supporting pensioners and giving them the dignity and security they deserve in retirement.”
He added that Pension Credit not only increases income but also opens access to other financial support like rent relief, Council Tax discounts, and free TV licences for over-75s.
Ongoing Debate Over WASPI Women Compensation
While promoting Pension Credit, the government continues to face mounting pressure over State Pension age changes that affected 3.5 million women born in the 1950s. Many women were unaware of the increase in the pension age, leading to financial hardship.
Last week, over 50 MPs debated in Parliament, urging the government to reconsider compensation for those affected.
However, Torsten Bell defended the government’s stance, stating:
- The majority of women were aware of the pension age increase.
- Even for those who weren’t, earlier notifications wouldn’t have made a significant difference.
- The government must make “fair and evidence-based decisions” regarding public funds.
Despite these remarks, MPs from all parties continue to push for a Parliamentary vote on compensation.
Upcoming Awareness Campaigns
To increase awareness, the government will send out 11 million Pension Credit leaflets in State Pension uprating notifications over the coming weeks. This initiative is part of the government’s broader efforts to maximize Pension Credit claims and provide financial relief to eligible pensioners.
Pension Credit remains a crucial support system for low-income pensioners and WASPI women struggling financially. With 760,000 eligible retirees missing out, checking eligibility now could mean an extra £4,200 a year—along with benefits like housing support and free TV licences.
If you or someone you know might be eligible, now is the time to claim Pension Credit and secure your rightful benefits.
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FAQ
What is Pension Credit?
Pension Credit is a means-tested benefit that provides financial support to low-income pensioners in the UK, helping them meet essential living costs.
Who is eligible for Pension Credit?
Single pensioners earning below £227.10 per week and couples earning below £346.60 per week may qualify for Pension Credit.
How much can Pension Credit increase my income?
Eligible pensioners can receive an average income boost of £4,200 per year, depending on their financial situation.
What additional benefits does Pension Credit provide?
Pension Credit offers access to housing benefits, Council Tax reductions, Cold Weather Payments, and free TV licences for over-75s.
How do I apply for Pension Credit?
You can apply online via the UK government website, by phone through the Pension Credit claim line, or by post using a printed application form.
When will the Pension Credit increase take effect?
The Standard Minimum Guarantee (SMG) for Pension Credit will increase by 4.1% on April 7, 2024, raising the income thresholds for eligibility.
Why are WASPI women encouraged to check Pension Credit eligibility?
Many WASPI women, affected by State Pension age changes, may qualify for Pension Credit to help with financial hardship.
How many pensioners are missing out on Pension Credit?
Reports show that 760,000 pensioners who qualify for Pension Credit are not claiming it, missing out on extra financial support.
Will claiming Pension Credit affect other benefits?
Claiming Pension Credit can unlock additional benefits such as housing assistance and Council Tax reductions without negatively affecting existing entitlements.
Is there a deadline to apply for Pension Credit?
There is no set deadline, but applying as soon as possible ensures you receive the maximum financial support available.
