The Bank of England warned this week that Britons face a tough 2022 as the UK sees inflation soar. Interest rates were lifted from 0.25 percent to 0.5 percent this week to try and bring the UK economy back under control. In its new forecast, the Bank said it now expected CPI inflation to rise to 7.25 percent in April – the highest level since the summer of 1991. The Bank said that these higher costs, which it put down primarily to energy bills and imported goods, would depress consumer spending and economic growth.

This has left many who are reliant on the state pension concerned.

The state pension, as things stand, will increase by 3.1 percent, in line with September’s inflation figure.

Having expected an 8.3 percent rise in line with average earnings, pensioners were dealt a blow when the Government announced last year it would suspend the triple lock and essentially ignore the earnings figures.

This now means that state pensions will rise by 3.1 percent while inflation is predicted to reach levels of six-seven percent in 2022.

Helen Morrissey of Hargreaves Lansdown spoke to Express.co.uk and urged Britons to take advantage of Pension Credit.

She said: “With regards to those who are dependent on the state pension, a really important thing to consider is Pension Credit.

“It’s there to top up the income of the poorest pensioners and it also acts as a gateway to other benefits.

“You can get help with NHS treatment, if you are over 75 you can get a free TV licence, there’s various other things which can have a massive impact over a long period of time.

“The thing with Pension Credit as well is that it is a really under-claimed benefit, a lot of people don’t recognise that they are eligible for it.

“Only something like six in 10 people who could claim it actually do.

“That’s something that anyone who is eligible should look at because it could make a massive difference for them.”

Per the Government website, Pension Credit gives you extra money to help with your living costs if you’re over State Pension age and on a low income.

READ MORE: How much state pension will you get? When will you get it? Check now

You might get extra help if you’re a carer, severely disabled, or responsible for a child or young person.

Other benefits include Housing Benefit if you rent the property you live in, support for Mortgage Interest if you own the property you live in, Council Tax Reduction, a free TV licence if you’re aged 75 or over, help with NHS dental treatment and help with transport costs.

Finance expert Martin Lewis recently urged more than one million people of State Pension age across the UK to check if they are eligible for a weekly cash top-up

He told viewers on the Money Show Live: “There are over a million people of State Pension age missing out on Pension Credit. If that’s you, think about it and if you know someone who may be eligible, talk to them.”

“This [Pension Credit] can top-up your State Pension if your total weekly pension is below £177 for a single person or £270 for a couple.

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“Even if you earn more than that, if you’ve got some savings, you might still be entitled to a small Pension Credit top-up.”

He also explained why the top-up is so important.

Mr Lewis added: “The reason this is so important is that it’s a gateway benefit, so if you’re entitled to the core element of Pension Credit and over 75, you get a free TV Licence, your Council Tax may be lowered and you may get the Warm Home Discount.

“So it’s really important to trigger getting this.”