Pensioners have been urged to check if they are eligible for pension credit to avoid missing out on a £301 cost-of-living payment, in the latest government initiative to raise awareness.

Pension credit tops up a person’s income to a minimum of £201.05 per week for single pensioners and to £306.85 for couples or more if a person has a disability or caring responsibilities.

The campaign points out that there are just ten days for people to claim Pension Credit and still qualify for the latest £301 payment, with those who successfully claim by 19 May also eligible for a £301 cost-of-living payment.

The government also highlighted the cost-of-living payment as demonstration of its focus on delivering the five priorities, including halving inflation, growing the economy and reducing debt.

Pensions Minister, Laura Trott, stated: “Pension Credit can make a real difference and I am determined to make sure this support – worth an average of £3,500 a year – is reaching everyone who needs it, particularly as we know how much pressure households across the country have been under.

“Please check if you or your loved ones can claim for this extra support, and if you do it by 19 May you could qualify for the £301 cost-of-living payment – giving another financial boost to those who need it most.”

The government previously launched an advertising campaign to boost the number of individuals claiming pension credit, amid continued scrutiny on the government’s broader strategy for increasing pension credit take-up.

Adding to this, AJ Bell head of retirement policy, Tom Selby, emphasised that pension credit is currently "massively underclaimed in the UK, with the government estimating 850,000 eligible pensioners fail to make a claim for the benefit each year".

"The average pension credit payment is worth over £3,500 a year, according to the DWP – a vital boost for low-income retirees during normal times but even more important with inflation continuing to eat away at household budgets," he continued.

“Pension credit is not just a valuable benefit in its own right – it also acts as a gateway to other benefits, such as help with heating costs and free TV licenses. And there is an extra incentive for pensioners to make a pension credit claim by 19 May this year.

“But receiving the pension credit you are owed and the attached benefits, including the cost-of-living payment, won’t happen automatically – it’s up to you to make a claim if you think you are eligible."

The initiative follows on from the news that the government is also looking to to address the fact that some parents who have not claimed child benefit could miss out on building their state pension as part of its recent 2023 Tax Administration and Maintenance Day.

Pensioners can also check their eligibility and get an estimate of what they may receive by using the online pension credit calculator.

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