AROUND 800,000 on state pension can make an easy check to ensure they don’t miss out on a free £300 cash boost.
It comes after the Chancellor announced yesterday that only those on pension credit, or other means-tested benefits, will qualify for the winter fuel payment from this year.
Until now, winter fuel payments have been made available to everyone above state pension age, currently 66.
The changes, which will be implemented this winter, will see households with someone aged over 66 receiving means-tested benefits including pension credit, Universal Credit and income support will still receive the payment.
It will be worth £200 for eligible households, or £300 for eligible households with someone aged over 80.
That policy is expected to reduce the number of pensioners who receive the payment from 11.4million to 1.5million.
The winter fuel payment is designed to help pensioners pay for their energy bills over the winter.
And now experts are warning that it’s more important than ever to see if you can apply for pension credit and get the cash.
Recent figures show 808,000 older households on low incomes are missing out on pension credit when they could be eligible.
It’s worth around £3,900 a year on average and unlocks many other benefits, such as council tax reductions and help with energy costs.
There are other bonuses available too, such as cold weather payments, free NHS dental treatment and a free TV licence.
Mike Ambery, retirement savings director at Standard Life, said: “Pension credit is a vital lifeline for people of State Pension age and on low incomes, however, a huge number of potentially eligible pensioners still don’t take it up. It’s now even more vital that people who can get this help, and therefore retain their winter fuel allowance as a result, do so.
“Many people mistakenly believe that if they have some savings or their own home they won’t be entitled to pension credit, with others worried about a perceived stigma attached to claiming. However, eligibility is wider than often assumed and pension credit can be a real lifeline when times are tough.
“We would urge people to check eligibility with a benefits adviser or the Government’s online Pension Credit calculator and make sure they are getting all the help available.”
Pension Credit is worth £218.15 if you’re single or for couples it’s £332.95.
If your income is lower than this, you should be eligible for the benefit.
You could get the “Savings Credit” part of pension credit if both of the following apply:
This part of pension credit is worth £17.01 for single people or for couples, £19.04.
You may also get additional pension credit if you are disabled, have caring responsibilities or have to pay certain housing costs such as mortgage interest payments.
You can find out more about Pension Credit including how to apply in our guide.
DON'T know where to start? Here are some tips from financial provider Aviva on how to get going.
Anyone over the state pension age living in England, Scotland, or Wales is eligible for pension credit.
The state pension age is currently 66 for both men and women.
To qualify, you must have a weekly income of less than £218.15 for single people or £332.95 for couples.
Your estimated income could include:
The calculation does not include:
If your income is too high to get pension credit, you may still get some savings pension credit, so it’s worth checking.
It used to be the case that couples, where one person was over state pension age, could claim, but new rules now mean that both people in a couple must be over retirement age to apply.
This means if you’re single and move in with a partner who is younger than the state pension age, you will stop being eligible.
But if you’re already receiving pension credit under the old system it won’t stop unless your circumstances change.
You can start your application up to four months before you reach State Pension age.
You can make an application on the Government website or by ringing the Pension Credit claim line on 0800 99 1234.
You can get a friend or family member to ring for you, but you’ll need to be with them when they do.
You’ll need the following information about you and your partner if you have one:
You can also get help with the application process through charities and non-profit organisations such as Independent Age and Age UK.
YOU can use a benefits calculator to help check that you are not missing out on money you are entitled to
Charity Turn2Us’ benefits calculator works out what you could get.
Entitledto’s free calculator determines whether you qualify for various benefits, tax credit and Universal Credit.
MoneySavingExpert.com and charity StepChange both have benefits tools powered by Entitledto’s data.
You can use Policy in Practice’s calculator to determine which benefits you could receive and how much cash you’ll have left over each month after paying for housing costs.
Your exact entitlement will only be clear when you make a claim, but calculators can indicate what you might be eligible for.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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