up to one lakh pensioner Families are being warned that they could miss out on the government’s £650m of subsistence payments.
Chancellor Rishi Sunak tomorrow Announced £10bn rescue package to help families through cost of living crisis,
The biggest announcements were:
Among the help revealed is a one-time payment of £650 for more than 8 million people on means-tested benefits including sovereign credits, pension credits, housing benefits, job-seekers’ allowances and income support.
But John Greer, head of retirement policy quilterSaid that one million pensioner families not claiming pension credits could miss out on a payment of £650.
“According to Age UKAbout one million pensioner households are entitled to this, but do not receive the normal pension credit and may therefore miss out on payments of an additional £650,” he said.
The pension credit is designed to help retirees a Low income By giving them extra money to help with the cost of living.
How much you get depends on your specific circumstances, including whether you have a partner, if you are disabled, and whether you have responsibilities to care for young children.
The maximum basic allowance is currently £182.60 for singles and £278.70 for couples.
But DWP figures for February 2022 show that there were 72,000 fewer recipients of normal pension credits compared to the previous year.
Retirees need to actively claim pension credits – benefits are not paid automatically.
And many people miss out as a result. Some pensioners aren’t aware of benefits, don’t think they’ll qualify, or are reluctant to claim help.
Mr Greer said: “However, the message is clear: If you don’t claim the credit, you won’t get help and the government needs to see how they can effectively publicize it to eligible pensioners.
“Even as Sunak recognized in his speech that people would still fall through the cracks and would not benefit from this policy even if they were eligible.”
Under Sage’s aid package, Pensioners still get £300. will get One-time payment to help with bills.
They are also ready for a pay hike next year, because triple lock has been reintroduced – This may mean that the state pension increases by 10%.
But Mr Greer added: “However, until then, pensioners are facing one of the worst disparities in their income versus inflation rate.
“As soon as post-summer cold weather approaches and the massive increase in energy prices really starts to subside, times will undoubtedly be incredibly difficult for everyone, and this one-time payment is a laudable move by the government.”
Mr Sunak’s announcements in the House of Commons came after inflation reached a forty-year high of 9% Which means the cost of living is increasing at a much faster rate than the benefit payout.
How do you claim pension credit?
You can start your application for pension credit Up to four months before reaching state pension age.
To be able to apply you need the following information:
- National Insurance number
- Information about any income, savings and investments you have
- Information about your income, savings and investments The date you want to backdate your application (usually 3 months before or the date you reach state pension age)
You will also need your bank account details. Depending on how you apply, you may also be asked for your bank or building society name, sort code, and account number.
You can apply by phone or by post.
You can find out more about pension credits government website,
We pay for your stories!
Do you have a story for The Sun Online Money team?