THE ‘clock is ticking’ for thousands of households to claim a £300 cost of living payment before the deadline at midnight – here is how to claim.
Around 1.2million pensioners who receive pension credit are eligible for the £300 cost of living payment.
GettyThousands of pensioners need to act today or risk missing out on a £300 cost of living payment[/caption]
The phone lines closed on Friday but you can still apply online until midnight on Sunday.
The payments are tax-free and are usually made automatically to those eligible.
It is estimated that around 850,000 eligible pensioners have not yet claimed the government support payment.
Pension Credit tops up a person’s income to a minimum of £201.05 per week for single pensioners and to £306.85 for couples.
The payments are tax-free and are usually made automatically to those eligible.
To be eligible applicants need to have been of state pension age between August 18 and September 17, 2023.
This will ensure that any payments can be backdated, and fall within the qualifying period for the £300 cost of living payment.
Even if you were only eligible for a day, as long as you fall into the qualifying period you will get the cost of living payment.
Claimants must have a National Insurance number and be able to provide information about income , savings and investments. They must also have bank account details.
Applications for pension credit can be made on the government website or by ringing the pension credit claim line on 0800 99 1234.
You can apply for pension credit up to four months before you reach the state pension age.
You will need:
Your National Insurance number
Information about any income, savings and investments you have
Information about your income, savings and investments on the date you want to backdate your application to (usually 3 months ago or the date you reached state pension age)
Your partner will also need to provide their information if you have one.
The benefit is usually paid directly into your back account roughly every four weeks.
You will be asked to provide your bank account details when you make your claim.
Concessions are sometimes made for people who don’t have access to a bank account.
Helen Morrissey, head of retirement analysis at Hargreaves Lansdown said: “The clock is ticking on the deadline to claim Pension Credit and get the £300 cost-of-living payment that has proved vital to so many pensioners this Autumn.
“People have until 10 December to submit a claim for Pension Credit and if successful they will get this extra boost on top of the benefit.
“Pension Credit plays an important role in topping up the incomes of the poorest pensioners and yet it remains hugely under claimed.
“On top of the income top up and the cost-of-living payment it opens the doorway to a host of other support such as help with NHS costs, heating bills and council tax.
“Claiming today could make an enormous impact to many people’s lives as we head into the winter months so it’s important to put in a claim if you think you or a loved one may be eligible.”
Applications for pension credit can be made on the government website or by ringing the pension credit claim line on 0800 99 1234.