Cost of living payment - last chance to get £299 from DWP even after deadline

04 March 2024 , 08:30

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The final cost of living payment is worth £299 (Image: Getty Images/iStockphoto)

The deadline for the £299 cost of living payment has now gone - but you may still be able to claim the money if you're entitled to Pension Credit.

Pension Credit gives you extra cash if you're over state pension age and on a low income. If you're eligible, your income could be topped up to £201.05 per week for single people and to £306.85 for couples. Pension Credit also gives you access to other financial support such as free TV licences for over-75s and council tax discounts.

Pension Credit is one the benefits that also entitles recipients to the third and final £299 cost of living payment. You can backdate Pension Credit by three months and the deadline to do this, and still claim the £299 cost of living payment, is by March 5, 2024 .

The Department for Work and Pensions claims Pension Credit is worth an average of £3,900 each year in extra financial support. But around 800,000 eligible households are missing out on the benefit and may not realise they're entitled to it.

Pension Credit - how to apply

Pension Credit is available if you are over the state pension age, and you live in the UK. The state pension age is currently 66 for both men and women, but is rising to 67 by 2028. Pension Credit comes in two parts and you may be entitled to one or both elements. The Guarantee Credit tops up your weekly income to:

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• £201.05 if you’re single

• £306.85 if you have a partner

Your income generally needs to be below these amounts to claim Guarantee Credit, although there can be some cases where it can be higher and you'll still be eligible. You might get additional payments if you’re a carer, severely disabled, or responsible for a child or young person.

If you reached State Pension age before April 6, 2016, or you have savings or a second pension, you may be eligible for the Savings Credit element of Pension Credit. For this, you need to earn above £174.49 if you're single and £277.12 if you're in a couple. Savings Credit is worth up to:

• £15.94 if you're single

• £17.84 if you're a couple

Levi Winchester