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Those with savings, a pension or their own home may still be eligible.
As well as the cash payment, recipients of Pension Credit may be able to get further perks.
For those who get it and who are over the age of 75, this includes a free TV licence.
Under new TV licence rules, all over 75s now need to pay for a TV licence, unless they receive Pension Credit.
According to data analysed by national poverty charity Turn2us, more than 589,000 eligible pensioners are missing out on the scheme.
Anna Stevenson, Welfare Benefit Expert, at Turn2us said: “Pension Credit is a lifeline for older people stuck on low incomes in retirement, and now it is the only route to getting a free TV licence.