An estimated 850,000 older people could be eligible for the DWP benefit.
The Department for Work and Pensions recently said that an estimated 850,000 older people on a low income could be eligible for an annual top-up of around £3,500 through Pension Credit - and the next cost of living payment worth £300. The DWP announced earlier this week that payments for the second part of the £900 cost of living payment will be made between October 31 and November 19, 2023.
Morgan Vine, Head of Policy and Influencing at Independent Age, said: “While the announcement of these payment dates will provide much-needed clarity for some older people in financial hardship, for the most financially vulnerable people we support, this money will only scratch the surface. Older people tell us they are falling into debt to pay their bills and skipping meals to make ends meet.
Top Money Stories Today Morgan continued: “The Government must urgently come up with long-term solutions for the more than 2 million older people in poverty, instead of short-term fixes. This should include a Pension Credit uptake strategy to ensure that all older people on a low income are aware of, and receiving, the money that has been set aside for them.”
Pension Credit in a nutshell Pension Credit gives people extra money to help with their living costs if they are over State Pension age and on a low income. It can also provide access to a range of other benefits. Who should check for Pension Credit? If you are over 65 and reached State Pension age before April 6, 2016, you could still qualify for Pension Credit if your weekly income is less than:If you qualify for Pension Credit you can also get other help, such as:
Latest State Pension News How to use the Pension Credit calculator To use the calculator on GOV.UK, you will need details of:You will be presented by a series of questions with multiple choice answer options.Once you have answered these questions, a summary screen shows your responses, allowing you to go back and change any answers before submitting. The Pension Credit calculator then displays how much benefit you could receive each week.
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