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Liverpool Echo
Liverpool Echo
Business
Kate Lally

Martin Lewis warns people to act now to get free cash

Martin Lewis is warning thousands of people who may be entitled to financial support from the government that they have just two days to act to claim the cash.

The Money Saving Expert founder took to Twitter on Friday to ask his followers to "please spread the word". Mr Lewis said almost a million pensioners are missing out on pension credit, and if they put in a claim for it by Sunday (December 18), they could also be entitled to a £324 cost of living payment from the government.

In a tweet, the finance guru said: "More than 800,000 lower income eligible pensioners miss out on pension credit, and CLAIM BY THIS SUN & as well as increased pensions there's a £324 cost of living payment too. Income under £200/wk (£300/wk couple) check it asap".

READ MORE: Lloyds bank issues £427 warning to all customers

He then shared a link to an MSE article, in which he explains pension credit is worth on average £3,300 a year, a huge help to people during these difficult times.

The £324 cost of living payment is part of a £600 sum announced as part of its original energy support package in May 2022. The money will be paid to those in receipt of Pension Credit and other qualifying benefits.

To be eligible for the second lump sum, older people must have been entitled to a Pension Credit payment (or later found to be entitled to a payment) in the period between August 26 and September 25, 2022. Because an application for Pension Credit can be backdated by three months, those who start the claiming process by Sunday December 18 and are successful can meet the eligibility criteria for the extra £324.

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