UK pensioners could miss out on a £299 cost-of-living bonus if they don’t apply for Pension Credit by the March 5 deadline, with around 880,000 households eligible for additional financial support.
UK pensioners are being urged to check if they are eligible for a crucial cost-of-living payment, with a looming deadline of March 5. The Department for Work and Pensions (DWP) has announced that around 880,000 households could benefit from an additional £299 by claiming Pension Credit before the specified date. Pension Credit, aimed at supporting low-income individuals of state pension age, averages over £3,900 annually, offering significant help with day-to-day expenses.
Minister for Pensions, Paul Maynard, has emphasized the importance of this scheme, particularly noting that the state pension is due for an 8.5% increase in April. This adjustment could further enhance the financial support available to pensioners, on top of the potential £299 cost-of-living bonus for those who successfully claim Pension Credit by the deadline.
Pension Credit guarantees a minimum weekly income and provides extra aid for pensioners with disabilities or caring responsibilities. Approximately 1.4 million pensioners currently benefit from this scheme. However, with the deadline fast approaching, pensioners are encouraged to swiftly check their eligibility. This can be done through the official government website or by calling the provided phone number (0800 99 1234).
The government’s push for eligible pensioners to claim Pension Credit not only aims to secure immediate financial assistance but also to ensure that pensioners can access additional support, including help with housing, council tax, and heating bills. With the state pension set to rise to £221.20 weekly from April, the initiative underscores the broader effort to support financial well-being in later life.