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The support tops up the income of Britons of state pension age who have a low income. People can claim the funds even if they have other income, savings and they own their home.
The benefit tops up a person’s weekly income, as part of the Guarantee Credit element, to £182.60 if they are single or up to £278.70 for joint claims.
The payment also includes a Savings Credit, an extra payment for people who save money towards their retirement, providing £14.48 for single people or £16.20 for couples.
People may be able to get extra funds through the scheme if they have a severe disability, care for another adult, are responsible for children or young people, or have certain housing costs.
Pension Credit is also a “gateway” benefit that provides access to other Government support, including cost of living payments for this winter.
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Eligible people have been urged to apply for the support by December 18 so they can claim the second instalment of the £650 cost of living payment, for £324.
Applicants need to send off their form by the deadline as their claim can be backdated by three months, meaning they will qualify for the qualifying period to get the second half of the payment.
People on the benefit also get the Cold Weather Payment – a £25 payment sent out to people in areas when temperatures drop below zero for seven consecutive days.
This has been replaced with the Winter Heating Payment in Scotland – a one-off £50 payment sent out regardless of the weather.
DON’T MISS
It is thought some 850,000 eligible households are missing out on Pension Credit, which does not affect a person’s state pension.
The benefit is set to increase by 10.1 percent next year, with the Guarantee Credit top up increasing to £201.04 a week for single people and £306.85 a week for couples.
John Palmer, director of policy and communications at Independent Age, warned people to act sooner rather than later.
He said: “We’re urging all older people to check now whether they could receive Pension Credit. Time is running out.
“Not only could they receive an extra £324 to help with the cost of living, but they will gain an additional weekly income and unlock a host of other entitlements.
“Even after the deadline to backdate the claim, all older people should check if they are eligible for Pension Credit.
“The support you could be entitled to is sitting in a pot, with up to £1.7billion a year not being received.
“During this tough winter, we all need to make sure we’re receiving all the support we’re entitled to.”
