This could make for a much-needed income boost to many in need but, it must be noted, Pension Credit is not automatic. It does need to be claimed, which answers for the significant lack of uptake.
If someone’s income is higher, they might still be eligible for Pension Credit if they have a disability, they care for someone, they have savings or they have housing costs.
Income includes things such as state pension, other pensions, earnings from employment and self-employment, and most social security benefits, for example Carer’s Allowance.
If individuals have £10,000 or less in savings and investments this will not affect their Pension Credit.
If someone has more than £10,000, every £500 over £10,000 counts as £1 income a week. For example, if someone has £11,000 in savings, this counts as £2 income a week.
For more information on who is eligible for Pension Credit, Britons can visit the Government website.