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Calls to means test the state pension were ramped up last week after financial think tank The Tony Blair Institute floated the idea of reducing the pension age benefits for those with more cash on hand.

But there is already a DWP state pension benefit available to all state pensioners right now - both older and new state pensioners - that is means tested and can top up your income to £12,376 a year.

Pension Credit is the pension age income boosting benefit which helps those with lower pension payments, particularly older state pensioners, though new state pensioners can claim it too.

The £12,376 total includes Pension Credit payments and your existing state pension payments it layers on top of. The average Pension Credit claim itself is worth roughly £4,300 a year on top of your existing state pension, not including any additional benefits, according to Money Saving Expert.

Pension Credit increased by 4.8% in April due to wage growth, up from £227.10 to £238 a week total income for a single person, for a maximum £12,376 per year, just a few hundred off the full new state pension anyway.

If your total weekly income including the state pension is lower than £238, you will probably qualify to claim the money. This is the means tested element - how much you will get depends how much income you already receive each week, including the state pension payments, other income, savings interest, investment interest, rental income and so on.

• Older state pensioners handed £1,661.76 payments
• State pensioners under 76 handed £246 a week

Pension Credit effectively acts as an income top-up, giving a state pensioner an increase to their payments to bring them up to almost the same level as the current new state pension weekly payments (for someone with a full National Insurance record).

State pensioners need a full NI record to qualify for the full state pension payments - £241.30 per week for a new state pensioner, £184.90 for an older state pensioner - which means those with a patchy or incomplete work record will get less.

Pension Credit raises your weekly income up to £238 for a single pensioner, almost entirely plugging the gap between what you take and the maximum weekly payments (excluding some older, now defunct schemes like Additional Pension).

Crucially, Pension Credit is also a gateway benefit for several other freebies and discounts like free TV licences for over 75s, dental care, council tax reductions, the Warm Home Discount and Cold Weather Payments, which means the benefit can be worth even more than the direct cash payments.

Gov.Uk explains: "Pension Credit gives you extra money to help with your living costs if you're over State Pension age and on a low income. Pension Credit can also help with housing costs such as ground rent or service charges.

"You might get extra help if you're a carer, severely disabled, or responsible for a child or young person. Pension Credit is separate from your State Pension.

"You can get Pension Credit even if you have other income, savings or own your own home."

Last week, the Tony Blair Institute set out that the entire state pension could be means tested based on income in future - not just the additional benefit Pension Credit - as the triple lock mechanism of increasing payments each year becomes more and more expensive.

Tom Selby, Director of Public Policy at AJ Bell, explained: "The TBI's blueprint for a complete overhaul of the system centres on a new 'Lifespan Fund'.

"For the public the main selling point is increased flexibility, with the ability to take a discounted income earlier provided you can show your total income meets a minimum floor.

"There would also be an option to receive some income during working life to help manage periods of financial strife, reviving your contribution record with a higher NI contribution rate when you go back to work.

"The income you get from the state would be 'personalised', providing a guaranteed income for life that reflects your age and health status - much like an annuity, this means the younger and healthier you are the less you get and the older and sicker you are the more you get."