Up to £2.4bn of pension credit goes unclaimed each year, Which? warns

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Many pensioners could be missing out on thousands of pounds a year. Which? reports that while a new pension tax allowance from April 2027 is worth only up to £94 to people with income between £12,570 and £13,037, pension credit matters far more

Pension credit tops up weekly income to £238 for a single person or £363.25 for a couple in 2026 to 2027. The first £10,000 of savings is ignored, and each £500 above that counts as £1 a week of income

It is worth about £3,900 a year on average. DWP figures for 2024 to 2025 suggest up to 900,000 eligible families did not claim, worth up to £2.4 billion

Pension credit also unlocks extra help, including a free TV licence for over 75s, help with NHS dental and optical costs, and £25 cold weather payments. You can claim online, by phone on 0800 991234, or by post

Billions going unclaimed means many older people are struggling when they do not need to. Checking eligibility is quick, and the knock on benefits make it even more valuable. Family members can help elderly relatives look into it this winter

Do you know anyone who might qualify for pension credit? And why do you think so many people miss out?

Could you be eligible for pension credit? - Which?www.which.co.uk