Hundreds of thousands of pensioners could pocket an extra £299 if they claim Pension Credit in the next 10 days.

Those who successfully apply for Pension Credit by 5 March could also secure a further £299 boost in the form of a Cost of Living payment thanks to backdating rules.

Pension Credit, which averages over £3,900 a year, is there to lend a hand with day-to-day expenses for those who have reached State Pension age and are on a low income.

Minister for Pensions Paul Maynard said:

We are committed to ensuring every pensioner receives the financial support available to them.

Anyone who is unsure whether they or a loved one is entitled to Pension Credit should quickly check using our online Pension Credit calculator – it’s never been easier.

Not only could this secure an extra £3,900 every year and unlock a whole host of other support, if successfully claimed by 5 March a further £299 Cost of Living boost is up for grabs.

While around 1.4 million pensioners are already receiving Pension Credit, there are an estimated 880,000 households eligible for the support who are yet to claim it.

For single pensioners, Pension Credit guarantees a minimum weekly income of £201.05; for couples, it’s £306.85. Additional help is also available for those with disabilities or caring responsibilities.

And even small amounts of Pension Credit could open doors to further financial assistance, covering things like housing costs, council tax, and heating bills, as well as potentially the £299 backdated Cost of Living payment.

You can apply for Pension Credit over the phone, online, or by post. And for anyone unsure about eligibility or how much they might get, the online Pension Credit calculator tool can help.

The State Pension is due to rise by 8.5% in April 2024 – meaning the new full State Pension will be worth £221.20 per week.