CLAIMS for pension credit have increased by 145% since the UK Government announced it would means test the Winter Fuel Payment, figures released on Thursday have shown.
Labour cuts to the Winter Fuel Payment mean the benefit will no longer be universal and will now only apply to some pensioners. The benefit will be means-tested, which means that it can only be claimed by pensioners claiming certain other benefits.
One of those is pension credit, and the deadline to apply is December 21.
Some 150,000 people have applied for the benefit in the 16 weeks since the announcement on July 29, compared to just 61,300 who applied in the 16 weeks before the announcement.
READ MORE: Brian Cox urges pensioners to apply for pension credit
The number of claims awarded rose by 17% to 42,500, while the number of claims refused almost doubled to 53,100.
Pension credit is often forgotten about, as Independent Age estimates around 70,000 households in Scotland are entitled to pension credit but do not claim it.
What is pension credit and can I claim it?
Created to help retired people on low incomes, it is there to help those on state pensions top up their household budgets.
The credit is built on two parts, with some only eligible for one of the two.
The first is the guarantee credit which is the main part of the pension credit and gives you a top-up of your weekly income to a minimum guaranteed level.
The second part is the savings credit, which is for "those who reached state pension age before April 2016, there's an extra boost available if you've made provision for your retirement via savings, work or a private pension" according to MSE.
Who qualifies for pension credit?
Over three million households qualify, but an estimated 880,000 do not claim.
- To qualify for pension credit you must:
- Live in the UK
- Reach state pension age
If you're a couple and have both reached pension age (you do not need to be married or in a civil partnership, and just need to live together)
You can also get savings credit if you cover the criteria:
- Have reached 65 if a man and 63 if a woman before April 6, 2016
- Have been awarded savings credit before April 6, 2016
- Remained entitled to savings credit at all times since April 6, 2016
You can find out more information on the UK Government website.
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