Pensioners over 70 could be eligible for lesser known benefit worth £700 a month
Many pensioners, who rely on the state pension to make ends meet, are counting their pennies after restrictions on Winter Fuel Payments were approved earlier this week.
This will result in millions missing out on the £300 seasonal payment for the first time this year.
However, numerous pensioners could also be unwittingly missing out on hundreds of pounds in unclaimed benefits and other age-related discounts.
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The state pension is arguably the most recognised Government-backed benefit for those over 66, but there are several benefits that retirees may not know about, which they can only claim later in retirement. These include free TV licences for those over 75, offering an annual saving of £159.
This benefit can be claimed by applying online or by contacting TV Licensing at 0300 790 6117. Military pension benefits are also most commonly claimed by pensioners over 70, according to website Lottie, despite not being specifically targeted at this age group.
Included in this category of pension benefits are the War Pension Scheme and the War Widow or Widower's Pension. Both have various rates depending on factors such as age, rank, pre-existing illnesses or injuries, and conditions developed or worsened as a result of service in the UK Armed Forces, reports the Manchester Evening News.
The War Pension scheme, available to individuals who have served in the UK Armed Forces and suffered an injury or illness due to service before April 6, 2005, is awarded at two main levels. A gratuity lump sum is given to those with a disablement less than 20%, while an ongoing weekly or monthly pension payment is provided for those with more than 20% disablement.
The payments can vary significantly, ranging from £40 a week to over £10,000 a year. Veterans of wars may be eligible to claim £140 a week through the War Disablement Pension, with amounts increasing to £160 for over-80s, £180 for over-90s and £200 a week for centenarians.
Applications for War Pension can be made via the Armed Forces Compensation or War Pension page.
Furthermore, the War Widow or Widower's Pension offers financial compensation for the spouses and children of individuals who were killed in the Armed Forces or died later due to an injury sustained during their service. The tax-free rates vary based on age, personal circumstances and the rank of the person who served in the Armed Forces.
A war widow or widower aged 70 and over could claim £184.95 a week, or £739 a month. To qualify, their spouse or civil partner must have died as a result of their service before April 6, 2005.
Additional eligibility criteria can be found on the Government website.