Little-Known Perks for Pensioners Over 60
By Jessica Truss | Published February 12, 2020
Are you taking advantage of all these discounts and government retirement benefits? You may be surprised to learn how many there are.
Retirement is more than just not having to head off to a job every day. There are many other lucrative benefits that folks who reach a certain age can enjoy too.
The sad part is, millions of UK consumers forget to go through the process to claim them and as a result, they miss out on valuable extra income opportunities.
Some of these are offered by the state while others come from private companies and can include things like cinema discounts.
To make sure you maximize the advantages we’ve compiled a list of a few of them here.
1. Pension and tax benefits You Claim
Millions of people collect the state pension.
How much you will get depends on things like:
Number of National Insurance contributions you've made during your working lifetime
Whether or not you were paying into the state second pension
The year you qualified for it.
You’ll need to check with the state pension website to see if you qualify.
The state pension qualification age is changing. It's currently set to 65 for men and women. However, in October 2020, it will be bumped to 66.
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3. Pension Credits
Pension credit: tops up the state pension for people who are on a low income.
- Guarantee Credit: tops your weekly income up to £167.25 for singles and £255.25 for couples.
- Savings Credit: Has been eliminated for those qualifying for the state pension (on or after 6 April 2016).
However, if you do qualify it provides £13.72 for singles and £15.35 for couples per week.
4. Claim a Housing Benefit
If your savings are less than £16,000 or you’re on a low income claiming only certain benefits, you may be eligible for a housing benefit as well.
It could result in a 100% reduction, so it’s definitely worth seeing if you qualify.
Applications should be made through your local council if you’re only making a new claim for housing benefit.
And Age UK’s free Handy Van program lets over 60’s with less than £20K in savings get things like smoke detectors and alarms installed for some added home security
5. Claim These Travel Discounts on Buses, Tube, Trams and More
Qualifying for a free bus or travel pass depends on where you live in the UK.
If you're in Wales, Scotland, Northern Ireland and London you can get a pass for free travel at age 60. For most other places in England, you'll need to reach state pension age to qualify.
The National Entitlement Card allows some free travel on trains and ferries in Wales and Scotland from age 60.
Londoners can get the 60+ London Oyster photocard at age 60, which offers free travel on buses, the tube, trams, and London Overground.
When you turn 65 you’ll need to switch to the Freedom Pass to continue enjoying these travel benefits.
In Northern Ireland, folks between 60 and 64 qualify for the 60+ SmartPass and then be sure and switch out to the Senior SmartPass when you reach 65.
Another great senior’s perk is the Senior Railcard which is available to 60’s travellers. It costs just £30 a year and it entitles you to a third off standard and first-class travel anytime, and off-peak and advance fares.
6. Have You Claimed Your Health and Well-Being Benefits?
You can get up to £148.85 a week to help with some of the extra costs associated with a disability.
This benefit is available under the Disability Living Allowance (DLA) or PIP (Personal Independence Payment) which recently replaced it.
Existing claimants are currently being moved over from DLA to PIP.
If you’re 65 or over and you're not currently getting DLA or PIP, you'll have to apply for an Attendance Allowance instead.
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