Martin Lewis warns 800,000 pensioners may be missing out on £3,500 | News News

Martin Lewis has urged pensioners to check if they’re missing out on a yearly top-up worth on average £3,500.

The founder of the Money Saving Expert website said around 800,000 pensioner households aren’t claiming the Pension Credit they are entitled to.

The benefit is open to those of pension age on a low income, which is classed as someone on less than around £220 a week – or if you’re a couple, under around £320.

Speaking during his weekly appearance on Nihal Arthanayake’s BBC Radio 5 Live show, Mr Lewis said he believed Pension Credit should be automatic so everyone eligible benefited.

He said the move could lift thousands of older people in the country out of poverty.

While discussing the State Pension Triple Lock, and whether it should be uprated in line with the growth in wages (8.5%) in April 2024, he added: ‘If you make the argument to get rid of the Triple Lock and don’t want to put pensions up by that much, well, there’s an argument that says lots of wealthy people are getting this, why should everybody or the taxpayer be contributing to their huge uprating.

‘I would say the most important thing is we stop the 800,000 people who aren’t claiming Pension Credit.

‘We should work a lot harder and automate the fact that people who are due Pension Credit – those are the lowest income pensioners – get their Pension Credit, that should be our priority.’

He urged people to help older members of their community to get what they’re entitled to.

The average Pension Credit works out as £3,500 a year, but Mr Lewis said some people could be eligible for a bit more due to either Savings Credit or disability.

He also highlighted how Pension Credit is one of the ‘core gateway benefits to a host of other pieces of finance’.

If you receive Pension Credit, you may also be eligible for cost-of-living payments, help with housing costs, Council Tax, heating bills and for people aged 75 or over, a free TV licence.

To check if you or someone you know should claim, use the online Pension Credit calculator on GOV.UK here.

Alternatively, you can also check by calling the Pension Credit helpline on 0800 99 1234 – lines are open 8am to 6pm, Monday to Friday.

Earlier today, we shared Martin Lewis’s warnings of a Wilko scam – worth noting as the discount retailer closes for good.

Wilko is currently hosting an ‘everything must go’ closing down sale – and selling off branches to Poundland and B&M, as well as its overall brand to The Range.

But scammers have taken advantage since the high street chain went into administration in early August – when Wilko first started to offer discounts on its various products.

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