10-day warning for thousands to become eligible for £301 cost of living cash

08 May 2023 , 23:01

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Pension Credit is available to low income pension households (Image: Getty Images/iStockphoto)

Thousands of pensioners have been given a ten-day deadline to check if they are eligible for Pension Credit so they can then claim the first cost of living payment.

Pension Credit is available to people who have reached state pension age and are on a low income.

If you’re eligible, this benefit tops up your income to £201.05 per week for single people and to £306.85 for couples.

Pension Credit also unlocks other perks, such as free TV licences for over-75s and help with housing costs, council tax and heating bills.

Those who are entitled to the extra help could be on average £3,500 a year better off, according to the Department for Work and Pensions.

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Pension Credit claimants are also entitled to the £301 cost of living payment - but only if they backdate their claim by May 19.

Almost one million households are missing out on Pension Credit.

Minister for Pensions Laura Trott said: “Pension Credit can make a real difference and I am determined to make sure this support – worth an average of £3,500 a year – is reaching everyone who needs it, particularly as we know how much pressure households across the country have been under.

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“Please check if you or your loved ones can claim for this extra support, and if you do it by 19 May you could qualify for the £301 Cost of Living Payment – giving another financial boost to those who need it most.”

Pension Credit - how to apply

You can apply for Pension Credit online on the Gov.uk website, by calling 0800 99 1234, or by printing out and filling in a paper application form.

Pension Credit is available if you are over the state pension age, and you live in England, Scotland or Wales.

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, depending on your circumstances.

The Guarantee Credit element of Pension 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 needs to be below these amounts to claim Guarantee Credit.

In some cases, you might still be eligible if you have a higher income and you have a severe disability, you're a carer or you have to pay housing costs, such as a mortgage.

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.

You could get up to:

• £15.94 if you're single

• £17.84 if you're a couple

You might get additional payments if you’re a carer, severely disabled, or responsible for a child or young person.

Levi Winchester