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Daily Mirror
Daily Mirror
Business
Levi Winchester

Just days left for almost one million households to claim £301 cost of living cash

Thousands of pensioners have just days left to potentially become eligible for the £301 cost of living payment.

Households are being urged to check if they are missing out on Pension Credit.

Pension Credit claimants are entitled to the £301 cost of living payment - but only if they backdate their claim by May 19.

Worrying figures show almost one million households are missing out on this benefit and should take action now.

The Department for Work and Pensions (DWP) estimates those who are entitled could be £3,500 a year better off on average.

Here is everything you need to know:

Pension Credit - who is eligible and how to apply

Pension Credit is a benefit for people who have reached state pension age and are on a low income.

The state pension age is currently 66 for both men and women, but is rising to 67 by 2028.

If you’re eligible, your income will be topped up to £201.05 per week for single people and to £306.85 for couples.

Pension Credit also gives you access to other help including free TV licences for over-75s and support with housing costs and other bills.

You may be entitled to one or both elements of Pension Credit, depending on your circumstances.

The Guarantee Credit element of Pension Credit tops up your weekly income to:

  • £201.05 if you’re single

  • £306.85 if you have a partner

Your income needs to be below these amounts to claim Guarantee Credit.

In some cases, you might still be eligible if you have a higher income and you have a severe disability, you're a carer or you have to pay housing costs, such as a mortgage.

If you reached State Pension age before April 6, 2016, or you have savings or a second pension, you may be eligible for the Savings Credit element of Pension Credit.

You could get up to:

  • £15.94 if you're single

  • £17.84 if you're a couple

You might get additional payments if you’re a carer, severely disabled, or responsible for a child or young person.

You can apply for Pension Credit online on the Gov.uk website, by calling 0800 99 1234, or by printing out and filling in a paper application form.

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