Most people living in the UK will be all too aware that the cost of living crisis is seeing households faced with rising costs, with many families struggling to make ends meet.
But if you’re feeling the pinch and are reaching State Pension age, it’s worth familiarising yourself with the wide range of benefits that may be available to you. From State Pension and Pension Credit to getting help with Council Tax and heating bills, there are several payments you can claim depending on your circumstances, the Daily Record reports .
Here’s what you need to know about the support that’s out there once you reach State Pension age, with some benefits coming into effect when you're even younger, according to advice from the MoneyHelper website . To find out whether you’re eligible for these benefits and to learn how to claim, visit Gov.uk .
READ MORE: DWP: Why you might not have received your Cost of Living payment and what to do
State Pension
A State Pension will provide you with a regular taxable income for the rest of your life, and you can claim it when you reach the State Pension age which is currently 66 years old for both men and women. The pension is not means-tested, so your circumstances will not affect how much you get - this is calculated based on your National Insurance record.
To qualify for State Pension, you will usually need at least 10 years on your National Insurance record, for example if you were working and paid National Insurance contributions or were getting National Insurance credits. The full State Pension amount is currently £185.15 per week.
Pension Credit
Pension Credit is given to help with your living costs if you’re over the State Pension age and on a low income. The credit will top up your weekly income to £182.60 if you’re single or a joint £278.70 if you have a partner, and you may get extra amounts if your circumstances mean you need further support, such as if you care for others, have a severe disability, or have to pay ground rent or service charges.
Help with Council Tax
You can apply for a reduction on your Council Tax bill to help support you when it comes to the cost of living. You can apply whether you own your home or are renting, and your bill can end up being reduced by up to 100% depending on your circumstances - contact your local council directly to apply.
Heating your home
The cost of our energy bills is one of the biggest talking points when it comes to the cost of living crisis, with prices for fuel expected to continue to soar. Luckily, there are several payments and schemes you may be eligible for to help once you reach State Pension age.
The first is Winter Fuel Allowance , a payment of between £250 and £600 which you will get automatically if you are claiming State Pension, Pension Credit, or other social security benefits. There’s also the Cold Weather Payment , in which people living in an area where the temperature is zero degrees receive £25 for each seven-day period of icy weather.
The Warm Home Discount Scheme is also available, providing a one-off discount on your electricity bill. There are two ways to qualify for this scheme - if you’re on a low income and meet your energy supplier’s criteria for the scheme, or if you receive the Guarantee Credit element of Pension Credit.
There are also a number of schemes out there that offer improvements to your living conditions in order to better insulate your home or improve your heating system to reduce bills. You are likely to qualify for this if your home requires improvements and you receive income-related benefits, including Pension Credit.
Health support
Everyone in England aged over 60 gets free prescriptions and eye tests, and you may also qualify for help towards dental treatment, travel costs to hospital appointments and glasses or contact lenses, according to MoneyHelper. You can find out more about the support you can get for healthcare on the NHS website.
Travelling for less
In England, you will qualify for a free bus pass when you reach State Pension age, while you can also get a National Rail Card entitling you to 1/3 off train fares if you're aged 60 or over. This one is for those who are already some way past the State Pension age, but if you're a British national born on or before 2 September 1929 you will qualify for a free passport.
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