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Pension Credit provides vital boost to 1,000 recent pensioners – are you eligible? | Personal Finance | Finance


Greater than 1,000 Ukrainian refugees over state pension age who’re eligible for this financial support, are understood to be receiving it. The payment is designed to support low-income individuals with top-ups, in addition to opening eligibility for other support.

This includes free TV licences for over 75s, help with council tax, and free NHS dental care. 

The Government has introduced emergency laws to assist people arriving from Ukraine.

It means these refugees is not going to be subject to the Habitual Residence Test.

If this help was not introduced, the Government says individuals would must wait up to 3 months before with the ability to receive income-related advantages.

READ MORE: Pension millionaire: How much it’s worthwhile to save and when

Individuals who have £10,000 or less in savings and investments is not going to have Pension Credit impacted.

Nonetheless, the Government explains: “If you will have greater than £10,000, every £500 over £10,000 counts as £1 income per week. 

“For instance, if you will have £11,000 in savings, this counts as £2 income per week.”

Applications for Pension Credit will be began as much as 4 months before an individual reaches state pension age.

They may need to supply details about their income, savings and investments, in addition to their National Insurance number.

Finally, Britons will even need to supply checking account details for a payment to be processed. 

Greater than 1.4 million pensioners across Great Britain are currently receiving Pension Credit.

The Government has stated take-up of the payment is at its highest level since 2010.

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