Thousands of individuals born in 1950 could qualify for a complimentary TV licence starting this year. If you are 75 years old or older and receive Pension Credit, you are eligible for a free TV licence, which currently costs £174.50.

Upon reaching 75 years of age and receiving Pension Credit, you can request a refund for any remaining months on your TV licence after your birthday. It is necessary to have a minimum of one month left on your TV licence to apply for a refund.

A TV licence is mandatory for watching or recording live TV, as well as for viewing any content on BBC iPlayer. If you exclusively watch catch-up shows on non-BBC iPlayer streaming platforms like Netflix, Amazon Prime, or YouTube, a TV licence is not required. However, live TV show streaming on these platforms necessitates a TV licence.

Failure to possess a TV licence while watching TV can result in fines of up to £1,000, or £2,000 in Guernsey.

It is estimated that around 800,000 eligible households miss out on Pension Credit annually. Pension Credit aims to boost your weekly income, with the primary component, Guarantee Credit, topping up weekly income to £227.10 for singles and £346.60 for couples.

Although typically eligibility hinges on income being below certain thresholds, individuals with higher incomes due to disability, caring responsibilities, or housing costs may still qualify for Pension Credit. Additional benefits can be accessed if you are a carer, severely disabled, or have child-related responsibilities.

“Savings Credit,” a part of Pension Credit for individuals reaching state pension age before April 2016, provides extra financial support based on income thresholds. This can include free dental treatment, eyewear vouchers, and an average annual award exceeding £3,900.

To apply for Pension Credit, visit GOV.UK, call 0800 99 1234, or complete a paper application form. Applications can be made up to four months before reaching state pension age.