Thousands missing out on seven freebies and discounts worth up to £4,624 with state pension – how to get them
THOUSANDS receiving the state pension could save thousands of pounds thanks to several major freebies and discounts.
Pensioners are eligible for free cash, discounts and other perks provided by both the government and various company schemes.
The state pension is a weekly payment from the government to men and women aged over 66 at the moment.
The age when receipt begins is due to rise to 67 by 2028 and 68 between 2037 and 2039.
It’s intended to give anyone a retirement income to support them as they get older.
The maximum new-style pension you can get is £203.85 a week, or around £10,600 a year.
You can spend the money as you wish, but it is treated as income so you may have to pay tax on it if all your earnings are above the annual personal tax allowance, currently £12,570.
But, there’s even more help available for people who get the payment, from discounts to free cash.
We’ve put together a list of seven freebies and discounts you could get with your state pension.
1. Free prescriptions – save £115 a year
Once you reach 60, you can get free prescriptions from your local pharmacy – prescriptions usually cost £9.65 each in England.
So if you usually buy a single prescription each month you could save £115.80 over the year.
If you’re 60 or over you’re also entitled to a free NHS sight test, so you should let your optician know when you reach 60 if you haven’t already.
Eye tests can usually cost between £20 and £30.
People who receive the guarantee element of Pension Credit can be eligible for free dental treatment too.
2. Travel discounts – save £100s
In England, you can get a bus pass for free travel when you reach the State Pension age.
Plus, if you live in London, you can travel free on buses, tubes and other transport when you’re 60, but only within London.
In Wales, you can get a bus pass when you reach 60.
You also get an older person’s bus pass when you’re 60 if you live in Scotland or Northern Ireland.
You can apply for the pass via your local council’s website where it will have more information.
Make sure to check the website or phone your local council if you have any questions.
How much you save will depend on how much you use the pass.
Pensioners can also purchase a Senior Railcard which gives the traveller discounted rail fares.
People with a Senior Railcard save £76 per year on average, or £5.34 per journey, according to National Rail.
There is an annual cost of £30 for the card and gets you 1/3 off train travel.
The Senior Railcard is available to travellers aged 60 or over.
You can apply for the card on the National Rail website.
3. Cheap days out – save £100s
People aged over 60 can get discounted days out and cinema tickets.
If you’re an existing National Trust member aged 60 or over, and you’ve been a member for at least the last three years, you can ask for 25% off your subscription.
This means that you’ll pay £63 for individual senior membership instead of £84 and £104.40 for joint senior membership instead of £139.20.
Odeon also holds weekly Silver Cinema screenings for over-60s with ticket prices starting at £3.50.
The cinema chain also provides free refreshments too.
You can find your nearest branches using the locator tool on the website.
4. Pension Credit – worth £2,700
Pension Credit gives cash-tight retirees help towards their food and energy bills.
To qualify, you must have a weekly income of less than £201.05 for single people or £306.85 for couples.
You’ll also need to be over the state pension age.
There are two parts to the benefit and pensioners can be eligible for one or both parts:
- Guarantee credit – tops up your weekly income to a guaranteed minimum level. This is £201.05 a week if you’re single and £306.85 a week for married couples.
- Savings credit – provides extra money if you’ve saved money towards retirement. You can get an extra £15.94 a week for a single person or £17.84 a week for a married couple.
You may also get additional Pension Credit if you have a disability, caring responsibilities or have to pay certain housing costs such as mortgage interest payments.
The average pension credit award is worth around £2,700 a year, according to Policy in Practice.
If your income is too high to get pension credit, you may still get some savings, so it’s worth checking.
Applications for Pension Credit can be made on the government website or by ringing the Pension Credit claim line on 0800 99 1234.
5. Free TV licence – save £159
Millions of households on Pension Credit qualify for a free TV licence.
This usually costs £159, but low-income pensioners can have the fee waived for free.
You can apply for the discount on the TV licensing website or by calling 0300 790 6117.
But hundreds of thousands more are still eligible for a free TV licence but aren’t claiming one, according to research by Policy in Practice.
These households are missing out on combined savings worth £135million.
Over 850,000 eligible households that are eligible but aren’t claiming Pension Credit are missing out on a free TV licence.
6. Winter fuel payment – worth £600
Retirees can get extra cash to help with energy bills over the winter worth up to £300.
Anyone getting the State Pension should receive the free cash payment automatically.
How much you get depends on your age and whether you get certain benefits, and getting the payment won’t affect them.
The current rates are £200 per eligible household where the oldest person is under 80, and £300 for households with someone aged 80 or over.
Plus, in Winter 2023, a £300 one-off “Pensioner Cost of Living Payment” will be paid out to eight million households to boost the value of the winter fuel payment.
7. Cost of living payment – worth £1,050
The £900 cost of living payment is a support payment paid to households in the UK that are struggling the most.
The first instalment worth £301 has already been paid out but the second instalment worth £300 will be made in the Autumn while the third instalment of £299 will be paid in Spring next year.
You’ll only be able to get it if you are claiming one of these benefits below.
- Income-based jobseeker’s allowance
- Income-related employment and support allowance
- Income support
- Pension Credit
- Tax credits (child tax credit and working tax credit)
- Universal Credit
Millions of households with disabilities will also get a £150 cost of living payment in weeks.
The tax-free cash will be paid directly into bank accounts between June 20 and July 4.
You have to be receiving certain benefits to qualify for the £150 cost of living payment. These are:
- Disability Living Allowance
- Personal Independence Payment
- Attendance Allowance
- Scottish Disability Benefits (Adult Disability Payment and Child Disability Payment)
- Armed Forces Independence Payment
- Constant Attendance Allowance
- War Pension Mobility Supplement
The £150 payment will be paid directly into eligible people’s bank accounts – you don’t have to apply.
The code to spot in your statement will be your national insurance number followed by “DWP COL”.