People making new claim for Pension Credit within next two weeks could also receive £301 payment
03.05.2023 - 04:29
/ dailyrecord.co.uk
Time is running out for eligible pensioners to receive £301 from the UK Government’s 2023/24 cost of living support package, warns Independent Age, the national older person’s charity. The £900 cost of living payment announced last year will be made in three instalments and is for households on many means-tested benefits including Pension Credit, the income top-up for older people on a low income.
The Department for Work and Pensions (DWP) recently confirmed that if eligible older people make a claim for Pension Credit before Friday May 19, they will be able to backdate it by the maximum of three months, taking it to within the qualifying period for the £301 payment. However, it’s important to note that only successful applicants will receive the cost of living payment along with Pension Credit arrears.
Pension Credit is a form of financial support that tops-up the income of people over the State Pension age who fall below a minimum income threshold. It can be worth over £3,500 per year on average, the equivalent to £60 a week.
The most recent figures from DWP suggest that an estimated 850,000 eligible pensioners could be missing out on the additional financial support.
Even if a person only gets a few pennies extra per week in Pension Credit, it can also unlock additional benefits such as the Warm Home Discount, a free TV licence (for people aged over 75), Council Tax Reduction, help to pay rent and free NHS dental treatment. Independent Age’s research has shown that these extra benefits alone can be worth up to £8,000 a year.
John Palmer, Director of Policy and Communications at Independent Age said: “We’re urging all older people that are financially struggling now to check whether they could receive Pension Credit. Time
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can
send a complaint on the news if you find it unreliable.