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Daily Mirror
Daily Mirror
Business
Evie Townend

One week left for thousands of people to qualify for £650 cost of living payment

Pensioners are being urged not to miss an important deadline that could see them qualify for the £650 cost of living payment.

Those who reached the state pension age by May 25, 2022, are being encouraged to put in a claim for Pension Credit by August 18.

This will then make you eligible for the first half of the £650 cost of living payment.

Pension Credit can be backdated by three months, which is why it isn't too late to put in a claim now.

The £650 cost of living payment is being sent to those on Pension Credit in two sums.

The first half of the cash support - worth £326 - is currently being paid out to eligible families.

The second half of the payment, £324, is due to be paid in autumn - although no set date has been announced.

Pension Credit works by topping up weekly incomes to a minimum of £182.60 for single people and £278.70 for couples.

It also entitles you to other benefits, including a free TV licence if you're over the age of 75.

You can see who is eligible for Pension Credit and how to apply here.

Having savings, a private pension or owning a home are not necessarily barriers to receiving the payment - contrary to what many might think.

However, it is estimated that 850,000 eligible pensioner households are missing out on Pension Credit each year.

Pension Credit works by topping up weekly incomes to a minimum of £182.60 for single people and £278.70 for couples (Getty Images/iStockphoto)

MPs are pressuring the government to improve their strategy for boosting pension credit uptake by the end of the year.

Age UK encourages all elderly people who are worried about paying their bills to check their eligibility and apply for pension credit ahead of the deadline next month.

As well as the means-tested £650 payment, there is an extra £300 support for 8 million pensioners as energy costs surge this winter.

The government website reads: "If you’re entitled to a Winter Fuel Payment for winter 2022 to 2023, you will get an extra £300 for your household paid with your normal payment from November 2022. This is in addition to any Cost of Living Payment you get with your benefit or tax credits."

As well as the means-tested £650 payment, there is an extra £300 support for 8 million pensioners as energy costs surge this winter (Getty Images)

Here is a full rundown of the additional support you receive with Pension Credit:

  • Cold weather payment worth £25, paid automatically when the average temperature is 0°C or below over seven consecutive days

  • £150 off electricity bill thorough the Warm Home Discount Scheme (if eligible)

  • A free TV licence (if over-75)

  • Free NHS dental treatment and help towards the cost of glasses and travel to hospital

  • Help with council tax and rent

  • Cheaper phone and home broadband deals

  • Reduced water bills

  • An extra amount of pension credit for some carers worth up to £37.70 a week

Age UK will help if you call its free national advice line on 0800 169 65 65.

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