Sunday, May 19, 2024

Act Quickly If You Want To Qualify For A £650 Increase For Pensioners; You Only Have One Week Left

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PENSIONERS have just over a week to meet the requirements for a £650 cost of living allowance, and some will need to take action.

For millions, the cost of living is still a genuine concern, but times can be challenging for those with low incomes. The government has made several cost-of-living payments, although recipients must be eligible.

Every home with a retiree who qualifies for a Winter Fuel Payment should get a one-time payment of £300.

While this is going on, a £650 payment is available for those who are thought to need further help because of low income.

People receiving means-tested benefits—Pension Credit is one of these—may be eligible for it.

However, there is not much longer for people to ensure their eligibility for the cost of living allowance.

All new Pension Credit claims must be made as soon as possible to be eligible for it.

Britons have little over a week to submit their Pension Credit applications as the final date is Thursday, August 18, 2022.

This is due to the three-month window for backdating successful Pension Credit applications.

Pensioners must have been eligible for a Pension Credit payment, or later determined to be eligible, between April 26 and May 25, 2022.

However, even though many people are eligible for Pension Credit, they have not submitted a claim.

Age UK claims that out of eligible retirees, one-third are still not receiving benefits.

As living expenses rise and people continue to lack access to necessary assistance, this might be a significant worry.

According to estimates from the government, 770,000 eligible retiree households are not getting their full entitlement to benefits.

Pension Credit, which according to DWP statistics, is worth an average of £3,300 per year, could significantly raise someone’s level of life.

It’s not too late, according to Caroline Abrahams, Charity Director at Age UK: “There is still a window of opportunity for elderly individuals on low incomes to be eligible for the first £650 of the Government’s cost-of-living payment this year.

We advise consumers to submit claims right away to avoid missing out.

“Pension Credit significantly increases people’s weekly income and provides access to many other benefits, such as free TV licences, assistance with energy costs, and savings on home expenses.

“We are aware that almost a quarter of a million pensioners are not now receiving this significant benefit.

“Many people frequently believe there is no purpose in applying if you have a tiny pension or some funds, but that is often untrue.

The sooner people take action, the sooner they will learn if they qualify for additional financial assistance, which might significantly improve their quality of life.

Once they reach the state pension age, people can apply for the Pension Credit anytime.

They’ll probably also need their National Insurance number and information about their earnings, savings, and assets.

People can submit applications through the government website, phone, or mail.

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