Cost of living: Just days left to apply for Pension Credit
Published 17th May 2023, 16:27 BST
Thousands of households have just days left to apply for
Pension Credit
– which will automatically make them eligible for the
301 cost of living payment
. Pensioners are being urged to check if they are missing out on the benefit, which could make them up to 3,500 better off per year, according to the
)
.
Pension Credit claimants are also entitled to the 301 cost of living payment, but only if they backdate their claim by May 19. Figures show almost one million households are missing out on the benefit, with consumer champion
Martin Lewis speaking out about the vital help recently
.
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You could also get extra help towards housing costs and other bills. Heres what you need to know about
Pension Credit
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Pension Credit – check if youre 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 youre eligible, your income will be topped up to 201.05 per week for single people and to 306.85 for couples. It doesnt stop there as 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 youre single