DWP letter could boost annual income by £4,300 – | U.Okay.Finance News
The Department for Work and Pensions (DWP) has unveiled recent plans to boost the uptake of Pension Credit, a means-examined benefit designed to help low-income pensioners by growing their annual income by an average of £4,300.Pensions Minister Torsten Bell revealed that the DWP is now proactively reaching out to all pensioners who submit new claims for Housing Benefit and look like eligible for Pension Credit, in a bid to encourage this particular group to make a declare.He mentioned: “In the longer term, we will be bringing together the administration of Pension Credit and Housing Benefit, so that pensioners receive both Housing Benefit and any Pension Credit that they are entitled to.”This announcement follows a question from Labour MP Imran Hussain relating to Pension Credit. According to DWP estimates, roughly 760,000 pensioners are eligible however not claiming the benefit, which might additionally present extra help for housing prices, heating payments, and Council Tax.In a written response earlier this week, the DWP Minister mentioned: “The Government wants all pensioners to get the support to which they are rightly entitled. That is why we have been running the biggest ever Pension Credit take-up campaign, which included adverts on Television, radio, social media such as Facebook and Instagram, on YouTube, on advertising screens, including on GP and Post Office screens as well as in the press.””Around 11 million pensioners will have also recently received a leaflet promoting Pension Credit along with their State Pension uprating letter,” stories Daily Record.A short overview of Pension Credit:An award of Pension Credit as little as £1 per week can unlock extra help. The DWP has just lately confirmed that just about 78 % of all new claims for Pension Credit are processed – from the initial software to the award determination letter – within the goal timeframe of 50 working days (10 weeks).This implies that older people on a low income and who make a new declare this month could obtain their first cost and any arrears by July.It’s very important for all older people – whether or not single, married or cohabiting – to make sure they’re claiming all the additional financial help they’re entitled to this yr to help increase their income and counteract the continuing value of residing disaster.When you apply for Pension Credit, your income is calculated. If you might have a accomplice, your incomes are calculated collectively.Pension Credit dietary supplements:
If your income is larger, you would possibly nonetheless qualify for Pension Credit when you’ve got a incapacity, care for somebody, have financial savings or have housing prices.What is taken into account as income?Your income contains:
What shouldn’t be thought-about as income?Not all advantages are counted as income. For occasion, the next should not included:
Your financial savings:If you might have £10,000 or much less in financial savings and investments, this won’t influence your Pension Credit. If your financial savings exceed £10,000, each extra £500 is taken into account as £1 income per week. For occasion, when you’ve got £11,000 in financial savings, it is counted as £2 weekly income.To decide eligibility for Pension Credit. Elderly people, or their family and friends, can swiftly confirm their eligibility and procure an estimate of potential advantages utilizing the online Pension Credit calculator accessible on GOV.UK right here.Alternatively, pensioners can straight attain out to the Pension Credit helpline to file a declare by dialling 0800 99 1234 – strains are open from 8am to 6pm, Monday via Friday.Expert steering and advice will also be sought from:Additional details about claiming Pension Credit might be discovered on GOV.UK right here.Additional help for Pension Credit recipients:If you are eligible for Pension Credit, you might also qualify for different varieties of help, equivalent to:
Changes affecting combined age older {couples} and Pension Credit:In May 2019, laws was altered in order that ‘combined age {couples}’ – the place one accomplice has reached State Pension age and the opposite hasn’t – at the moment are categorized as a ‘working age’ couple when assessing entitlement to means-examined advantages.This implies they can not apply for Pension Credit or pension age Housing Benefit till each companions have attained State Pension age. Prior to this DWP modification, a combined age couple could doubtlessly declare the more beneficiant State Pension age advantages as soon as one accomplice had reached State Pension age.How to utilise the Pension Credit calculator:To use the calculator on GOV.UK, you will need particulars of:
The identical info will probably be required to your accomplice when you’ve got one. You’ll be requested a sequence of a number of-alternative questions.These embrace:
After answering these questions, a abstract screen will show your responses, permitting you to review and amend any solutions earlier than submission. The Pension Credit calculator will then reveal the potential weekly benefit you could obtain.Next, merely comply with the hyperlink to the applying web page to find precisely what you’ll be able to anticipate from the DWP, together with entry to different financial help.There’s additionally an option to print your responses from the calculator software, which might expedite the applying course of by eliminating the need to re-enter the identical particulars. Try the Pension Credit Calculator for your self or a member of the family to make sure you’re claiming all of the financial help you are entitled to.Who is ineligible to make use of the Pension Credit calculator?The calculator can’t be used for those who or your accomplice:
How to submit a declare?You can provoke your software up to 4 months previous to reaching State Pension age. Claims might be made at any time after you attain State Pension age, however they will solely be backdated for 3 months.This implies that for those who had been eligible during that period, your first Pension Credit cost could embrace up to a few months’ value.You will require:
If backdating your declare, you will need to supply details about your income, financial savings and investments on the date you want your declare to begin.How to use online?The online service is out there if:
To confirm your eligibility, call the Pension Credit helpline at 0800 99 1234 or utilise the GOV.UK Pension Credit calculator right here to find out how a lot you could doubtlessly obtain.
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