Pensioners on low income could get nearly £300 from next month but hundreds of thousands are at risk of missing out.
People who claim Pension Credit are among those eligible for the Cost of Living payment– worth £299 – from the Department for Work and Pensions (DWP).
A person must have been entitled to Pension Credit, or later found to be entitled to Pension Credit, for any day in the period November 13 to December 12, 2023, to qualify via this benefit.
It will be paid between February 6 and February 22, 2024 for most people.
Do you have a story you'd like to share? Get in touch with the GB News money team via money@gbnews.uk.
Pension Credit can be backdated by up to three months
PA
However, the latest DWP figures show 880,000 households who are entitled to Pension Credit have not claimed it.
Pension Credit can be backdated by up to three months, meaning if a person was eligible during the aforementioned period, they can claim and subsequently get the £299 boost.
They would need to do this by March 12, 2024 to avoid missing out on the tax-free Cost of Living payment.
Pension Credit is a top-up benefit, providing extra money to help people who have reached state pension age and are on a low income.
It is also a gateway to other forms of support such as Council Tax Reduction.
Furthermore, over 75s who get Pension Credit can apply for a free TV licence.
A person can claim Pension Credit even if they have other income, savings or own their own home.
The Government has launched a Pension Credit calculator, which can show if a person is eligible for Pension Credit and how much they are entitled to.
LATEST DEVELOPMENTS:
Users need to submit details of earnings, benefits and pensions, as well as savings and investments.
Pension Credit can be claimed online, by post or via phone.
There are several free and anonymous benefits calculators online which can offer some guidance on whether a person is getting all of the support they are entitled to.
These include tools hosted by Turn2us, Policy in Practice and entitledto.
