Martin Lewis warns thousands could be missing out on £3,000 a year - 'CRITICAL boost'

Martin Lewis has discussed how thousands of pensioners could save more.
Martin Lewis has discussed how thousands of pensioners could save more.

The Money Saving Expert outlined in his newsletter that pensioners are missing out on a 'critical boost' to their income

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Martin Lewis has outlined how thousands of pensioners could be missing out on £3,300 a year.

The Money Saving Expert outlined in his newsletter that pensioners are missing out on a “critical boost” to their income.

Over 800,000 eligible pensioners aren’t claiming pension credit, which could boost their pensions by around £3,300 a year.

Amid the crippling cost of crisis, the additional fund could be a lifeline for many.

Qualifying individuals will be accepted based on savings, disabilities and other circumstances.

Pension credit is a benefit for those who are struggling to get by with what they have.

It is offered in two different forms depending on your circumstances - Guarantee Credit and Savings Credit.

The crippling cost of living crisis will see many pensioners looking at how they can gain extra on top of their pension pot.
The crippling cost of living crisis will see many pensioners looking at how they can gain extra on top of their pension pot.

Guarantee Credit boosts your weekly pension to £182.60 if you’re single, if you’re married, you can expect a £278.70 paid out weekly in support.

The average top up is £65 a week, therefore a total of £3,300 a year.

To check if you’re eligible, you can call 0800 99 1234 to take you through to a helpline that is open from 8am to 6pm.

You can also find out if you’re eligible by going online.