Pension Credit will go up next year, meaning couples will be able to get up to £278.70 a week if they qualify - but around 1million already don't claim the benefit.
Pension Credit is a benefit that tops up the incomes of retirees and helps them have a decent standard of living.
The amount you get varies depending on factors whether you have a partner, are disabled or care for young children.
The most you can currently get is £177.10 a week if you are single or £270.30 for couples.
But from next April that will go up to £182.60 and £278.70.
That means a rise of £5.50 a week for single people and £8.40 a week for couples.
If you are severely disabled you are eligible for up to £67.30 extra on top of that allowance.
That is going up next April by £2.10 a week.
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If you are a carer for an adult you are also eligible for extra Pension Credit.
This is £37.70 a week now, and will increase to £38.85 next year.
If you care for young children you can get extra payments too.
If the first child you care for was born before April 6, 2017 you get £65.10 a week now, rising to £66.85.
For all other children, or any born after that date, you receive £54.60, going up to £56.35 next April.
You can choose to be paid Pension Credit fortnightly or every four weeks, but it has to be claimed - you will not get it automatically.
The Department for Work and Pensions (DWP) estimates that up to one million pensioner households across the UK may be entitled to Pension Credit but are not claiming it .
How to make a claim
You can start your application up to four months before you reach State Pension age.
You can claim any time after you reach State Pension age but your claim can only be backdated for three months.
This means you can get up to three months of Pension Credit in your first payment if you were eligible during that time.
You will need:
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your National Insurance number
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information about your income, savings and investments
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your bank account details, if you’re applying by phone or by post
If you’re backdating your claim, you’ll need details of your income, savings and investments on the date you want your claim to start.
The DWP has a Pension Credit Toolkit which includes a quick guide to entitlement, details about payments and a link to the online Pension Credit calculator.
Additional benefits of claiming Pension Credit
There are a few perks and benefits you can only get if you claim Pension Credit.
These include:
- Council Tax Reduction: potentially worth £1,000 to £2,000 a year
- Warm Homes Discount: worth £140 a year
- Housing Benefit: potentially worth £1,000s a year
- Cold weather payments: potentially worth £25 a week in winter
- Free home insulation and boiler grants: worth £1,000s for some
- Free dental treatment: worth £100s a year for some
- Voucher for glasses/contact lenses: worth £39 to £215 depending on your prescription
