Pension Credit: Yvonne on living on the breadline
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Claimants of Pension Credit are among the eligible groups who qualify for the Government’s £650 cost of living payment. The first instalment of this support was rolled out earlier this year to those in receipt of means-tested benefit payments from the Department for Work and Pensions (DWP). Later in the year, the second instalment worth £324 will be delivered to pensioners who claim Pension Credit.
However, the date of when this particular cost of living payment will be administered is yet unknown.
In order to get this assistance, pensioners will need to apply for Pension Credit, which gives older people a financial boost on top of their existing state pension.
According to Age UK, there are around 750,000 pensioners whe are not claiming the benefit despite being entitled to.
This means that thousands of older people are at risk of missing out on a sizable £324 payment which could help them with their energy bills this winter.
It should be noted that those who apply for Pension Credit now will not be able to claim the first instalment of £326.
To get this amount of cash, pensioners must have been claiming Pension Credit or have been eligible for it between April 26 to May 25, 2022.
The latest someone could put in a claim for this benefit to be eligible for the £326 was August 18, 2022.
Due to the fact a successful claim for Pension Credit must be backdated by three months, anyone who started their application before this date would meet the eligibility criteria.
As no set date has been confirmed for the rollout of the £324, pensioners still have time to put forward their claim.
Caroline Abrahams, the charity director at Age UK, called on eligible pensioners to apply for the DWP benefit as soon as possible.
She explained: “Pension Credit not only gives a significant boost to people’s weekly income; it also opens the door to a wealth of extra support including help with energy bills, a free TV licence and discounts off household bills.
“We know that around three quarters of a million pensioners are missing out on this important benefit right now.”
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The retirement expert urged those interested in getting more support to reach out to her charity for further guidance.
Ms Abrhams added: “If you’ve been hearing about Pension Credit and wonder if you might be entitled to it, please contact Age UK for more information.
“Many people often think if you have some savings, or a small pension there’s no point applying but that’s often not the case.
“The sooner people act, the sooner they will find out if they are eligible for some of the additional financial help, and this could be life-changing for them.”
Who else is eligible for the £324 payment?
Outside of Pension Credit, many other benefit payments qualify someone for the Government’s cost of living support.
Among the other qualifying DWP payments are:
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Working Tax Credit
- Child Tax Credit
- Universal Credit
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