Pension Credit is an income-related benefit made up of two parts - Guarantee Credit and Savings Credit.
It's aimed at supporting retired people on low incomes and can be worth thousands of pounds a year.
However, Martin Lewis on Good Morning Britain revealed that 1.3million people don’t claim it.
Guarantee Credit tops up your weekly income if it’s below £167.25 (for single people) or £255.25 (for couples).
Martin added: "For some, if you earn more than £144.38 a week if you’re single, or £229.67 as a couple, and have some retirement savings your income may be topped up too."
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To qualify for Pension Credit:
- You must live in England, Scotland or Wales
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You or your partner must have reached State Pension age
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Your partner is your husband, wife or civil partner (if you live with them) or someone else you live with as if you were married.
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Martin said: "Right now there is an urgent deadline for some couples (married, civil partners, or living together as a couple), where one partner is over the state pension age and the other isn’t e.g. a 62-year-old and a 69-year-old in a couple.
"In fact, the deadline was this Wednesday, but you can still backdate a claim for three months, so in practice there’s time.
"The issue is that if you do it now you get pension credit, if you do it and don’t make the deadline you get universal credit – and in every case that pays less. In fact some may lose out on up to £7,000 per year."
The quickest way to apply for Pension Credit is by phone - on 0800 99 1234.
A friend or family member can also call for you but you must be with them when they call.
