Pensioners only have a couple of days left to get the UK Government's £650 one-off cost of living payment.
In order to qualify for the means-tested support, Pension Credit claims must be submitted to the Department for Work and Pensions (DWP) by August 18. The DWP commented in its newest newsletter that people of State Pension age who successfully claim Pension Credit before the deadline will receive the full £650 sum.
The DWP said: “To qualify for the first cost of living payment, worth £326, a person must be entitled to a payment of Pension Credit on any day from April 26 to May 25, 2022. However, new claims for Pension Credit can be backdated for a maximum of three months provided the entitlement conditions are met throughout the three months.
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“To guarantee that 25 May will be included in the first Pension Credit payment for pensioners wishing to backdate a new claim, we are advising that claims should be made as soon as possible and no later than 18 August. We would like to ensure everyone who is eligible for Pension Credit, claims it as soon as possible so they do not miss out on the cost of living payment.
"Pensioners, or friends or relatives on their behalf, can use this calculator to check if they qualify.”
Pension Credit is referred to as a 'gateway' benefit because, as well as being worth as much as £3,300 a year, it also potentially provides access to Council Tax, housing and NHS discounts, as well as free TV licences for those over 75.
Additionally, people who claim Pension Credit may be eligible for the £300 pensioner cost of living payment, which will be added onto the Winter Fuel Payment in November and December, as well as the £150 disability cost of living payment due in September.
As reported by the Daily Record, around 33 per cent of all people who receive State Pension qualify for Pension Credit. Here is a summary of everything you need to know about the benefit.
What is Pension Credit?
Around 1.4 million people throughout the UK of State Pension age currently receive Pension Credit to help with living costs. According to the DWP, hundreds of thousands are missing out on the benefit by falsely assuming they are not eligible.
Other help if you receive Pension Credit
If you claim Pension Credit, you will also be entitled to additional help, including:
- Housing Benefit if you rent the property you live in
- Support for Mortgage Interest if you own the property you live in
- Council Tax discount
- Free TV licence if you are aged 75 or over
- Help with NHS dental treatment, glasses and transport costs for hospital appointments
- Help with your heating costs through the Warm Home Discount Scheme
- A discount on the Royal Mail redirection service if you are moving house
Mixed aged older couples and Pension Credit
The law was altered in May 2019 to make it so that couples in which one partner is above the State Pension age and the other is below it no longer qualify for Pension Credit or pension age Housing Benefit until they both reach State Pension age.
How to use the Pension Credit calculator
To use the online tool, you will need to have information regarding you and your partner's (if you have one):
earnings, benefits and pensions
savings and investments
You will be asked a number of questions about your personal information, such as:
- Your date of birth
- Your residential status
- Where in the UK you live
- Whether you are registered blind
- Which benefits you currently receive
- How much you receive each week for any benefits you get
- Whether someone is paid Carer’s Allowance to look after you
- How much you get each week from pensions - State Pension, private and work pensions
- Any employment earnings
- Any savings, investments or bonds you have
Once you have submitted answers, you will be taken to a summary screen that allows you to go back and make adjustments before you submit the form. After this, you will be shown how much you could receive per week.
Then all you need to do is click on the link to the application page, where you will be informed exactly how much money you will receive from the DWP, as well what additional financial support you will have access to.
You can use the Pension Credit Calculator here.
Who cannot use the Pension Credit calculator?
You are not able to use the tool if either you or your partner:
are deferring your State Pension
own more than one property
are self employed
have housing costs (such as service charges or Crown Tenant rent) which are neither mortgage repayments nor rent covered by Housing Benefit
How to make a claim
You are able to start a claim as many as four months before reaching the State Pension age. You can make a claim any time after this, but it can only be backdated for three months.
To start a claim, you will need to have:
your National Insurance number
information about your income, savings and investments
your bank account details, if you’re applying by phone or by post
Apply online
The online service can be used if:
you have already claimed your State Pension
there are no children or young people included in your claim
To check how much you could receive, contact the Pension Credit helpline on 0800 99 1234 or use the GOV.UK Pension Credit calculator here.
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