There are a number of benefits available only to those reaching State Pension age. These payments could boost the income of millions of older people in the UK.
Approximately 13 million people have now reached State Pension age across the UK. Many retirees rely on this contributory benefit as their primary source of income, providing crucial financial support of up to £921 every four weeks for 4.1 million people receiving the New State Pension.
Around 8.8 million pensioners receive up to £705.80 each pay period through the Basic State Pension.
For those nearing the official retirement age, it's important to be aware of certain benefits you can claim from the Department for Work and Pensions (DWP), in addition to Council Tax discounts, assistance with heating costs and more.
Likewise, those already receiving State Pension payments may not be aware of over a dozen ways they could potentially increase their current income in the coming months.
As reported by the Daily Record, Pension Credit is now worth an average of £4,300 annually and currently takes about 50 working days to process. This means that successful claimants could see their first payments arrive before the end of June.
The simplest method to verify eligibility for any benefit, discount or reduction is through an online benefits calculator. If you know an elderly relative or friend without internet access, or who struggles with computers, you should assist them to make certain they're not losing out on extra financial help in 2025.
Benefits and discounts available in retirement include:
- State Pension
- Pension Credit
- Help with Council Tax
- Help with heating costs - eligibility for some may require a relevant qualifying means-tested benefit
- Health benefits - Attendance Allowance, Pension Age Disability Payment
- Travel and TV benefits
- Benefits for war widows and widowers
- State Pension
The State Pension provides you with a regular taxable income for life once you reach State Pension age and submit a claim. Some individuals opt to postpone this whilst they remain in employment.
It's not means-tested, though the sum you receive depends on how many qualifying years of National Insurance Contributions or credits you've accumulated.
You require a minimum of 10 years for any State Pension payment and approximately 35 for the full amount - this may be higher for those who were "contracted out".
Details on all benefits accessible to you can be located at GOV.UK.
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