Martin Lewis explains how you could be owed thousands in unclaimed Pension Credit

Martin Lewis explains how you could be owed thousands in unclaimed Pension CreditSource: This Morning

Transcript

00:00Even if you're not of state pension age, even if you're 25 or whatever, please listen to this.

00:05We need to make sure we reach every nook and granny and grandpas too to spread the word on

00:12this particular one. So here you go. If you are a single pensioner of state pension age and you

00:18earn under a total income of £218 a week, you are very likely to be eligible for pension credit.

00:27If you earn under £235 a week, you may get pension credit so it's still worth checking.

00:33If you are a pensioner couple and you're both of state pension age and you earn under £333 a week

00:41total income, you are very likely to get it. And even if you earn under £350 a week of total

00:48income, you may get it so you should check. It's worth noting if you're a state pensioner on a

00:54low income and you're married or a partner with somebody who isn't of state pension age yet,

00:59then you can't get the winter fuel payment through pension credit, but you may be able

01:03to get it through universal credit. Now I should just say what counts as total income. It's all

01:06the usuals. It's any salary. It's any state pension benefit. It's any pension income. And

01:11crucially, if you have over £10,000 of savings, for every £500 you're over £10,000, they count

01:20that as £1 a week income, which would be equivalent to 10% interest chance to be a fine

01:24thing. So your savings if you've got over £10,000 do count as income.