Pensioners warned deadline to get £324 is looming

Cost of Living: Bristol resident says it has 'gone too far'

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A £324 cost of living payment is approaching, but only certain individuals will be eligible to receive it. This includes those who receive Pension Credit, a payment designed to help older people on a low income.

Consequently, people who are not receiving Pension Credit have been encouraged to act as a deadline approaches.

To receive the £324 payment, a successful claim will need to be submitted by December 18 – just days away. 

Those who receive Pension Credit will be entitled to the cost of living payment worth £324.

The individuals will also be eligible for further payments worth £900 next year, which could provide significant help to older people.

Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown, said: “People have faced huge financial challenges this year and need to claim all the support they can to help them through the next few months. 

“Pensioners in particular have faced a tough time as surging food and energy bills take huge chunks out of their income and for many pensioners it’s been a real battle.”

Pension Credit is often described as a gateway benefit, as it can provide Britons with other forms of support through eligibility.

Claimants could get help with council tax and NHS costs, and those over the age of 75 can get a free TV licence.

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The cost of living payments available via Pension Credit eligibility has provided a welcome boost for many, particularly those who are struggling with income.

However, many do not claim Pension Credit even if they are eligible – an estimated 850,000 people according to the DWP.

Ms Morrissey continued: “Such support can make a huge difference and yet Pension Credit remains massively underclaimed.

“There are several reasons for this. People don’t realise you can claim if you own your own home or if you have savings for instance. 

“However, the deadline to submit a successful claim for Pension Credit and qualify for the £324 cost of living payment is looming and it is vital that as many people as possible claim.”

Currently, there are various ways for Britons to claim Pension Credit if they think they could be eligible.

Applications can be submitted online, via phone or by post.

However, Ms Morrissey warned Christmas post backlogs may impact the speed at which a claim is possible via post.

As a result, she encouraged people to explore the other options to ensure their claim reaches the DWP as soon as possible.

She added: “If you think either yourself or a loved one might qualify then it’s well worth picking up the phone or getting online before the December 18 deadline to see if you can make a claim. 

“There have been reports that DWP are dealing with a backlog after a surge in applications so there may be some delay in processing your claim but if you are eligible and you submit your claim in time you will benefit.”

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Responding to claims of a backlog, a DWP spokesperson said: “We want to ensure pensioners receive all the support to which they are entitled and the success of our recent Pension Credit campaign is helping drive the volume of Pension Credit claims being submitted to an all-time high.

“Additional resources are being deployed to ensure we deal with the increase as quickly as possible, while successful claims and arrears will be paid accordingly to ensure those who are entitled do not miss out.”

Pensioners are also encouraged to use the Pension Credit calculator available via the Government’s website.

To use the calculator, Britons will need to provide details of:

  • Earnings, benefits and pensions
  • Savings and investments.

The calculator cannot be used by those who:

  • Are deferring the state pension
  • Own more than one property
  • Are self-employed
  • Have housing costs (such as service charges or Crown Tenant rent) which are neither mortgage repayments nor rent covered by Housing Benefit
  • Get Housing Benefit for people over state pension age, and the other person is under state pension age

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