Are you missing out on Pension Credit?

Hundreds of pensioners in Newtown may be missing out on vital financial assistance as it is estimated that around 80,000 pensioners across Wales are entitled to Pension Credit but are not claiming it.

Pension Credit is a form of support provided by the government that ensures older individuals do not have to live on less than £201.05 a week for single people or £306.85 for couples. In addition to this, recipients of Pension Credit may also be eligible for help with housing costs, council tax, and a free TV licence for those over the age of 75.

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For those who have reached State Pension Age before 6 April 2016 and have made provisions towards their retirement such as savings or a private pension, there is an opportunity for even more financial assistance.

This is known as the Savings Credit and could amount to as much as £15.94 for a single person or £17.84 for a couple.

Recognizing the potential benefits of the program, Powys County Council is now encouraging pensioners in Newtown to find out if they are entitled to Pension Credit.

Cllr James Gibson-Watt, Powys County Council's Leader said:

"I can't stress enough the difference a friend or relative can make by doing a bit of research with an older person to find out what financial help is available,"

"Lots of people could be missing out on Pension Credit because they wrongly think it isn't meant for them. You might still get extra money even if you own your own home or have some savings."

To assist in determining eligibility, the government offers an online calculator on GOV.UK where individuals can input their information to find out what they might be entitled to. Claims for Pension Credit can be made online at www.gov.uk/pension-credit or by calling the Freephone Pension Credit claim line on 0800 99 1234.