Experts are reminding older people to check if they’re eligible for Pension Credit, a benefit awarded by the Department for Work and Pensions (DWP) to pay for their energy bills. It is designed to give financial assistance to those who are on low income and of the state pension age. The benefit payment gives extra money for living costs with claimants getting extra help if they are disabled or if they care for someone.
Pension Credit boosts someone’s weekly income to £182.60 if they are single and to £278.70 if they have a partner.
An additional £69.40 a week is given if pensioners have a severe disability and claim disability benefits, including PIP and Attendance Allowance.
If a Pension Credit recipient looks after someone and gets Carer’s Allowance, they could get an extra £38.85 a week.
Pensioners are being called to apply for this support as it could help many survive the continuing cost of living crisis.
READ MORE: State pension set to rise next year but 520,000 people will miss out
Energy bills are set to be around £3,582 a year for the average household from October, according to Cornwall Insights.
On top of this, the energy price cap is now forecast to reach £4,266 in January and will increase to £4,427 in April.
This places an unprecedented amount of financial pressure on households with older people being more likely to be vulnerable to these bill rises.
Speaking to Express.co.uk, financial planner Rowan Harding from Path Financial outlined what is at stake for older people living in the UK.
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Ms Harding explained: “Many people are feeling the pressure and struggling to make ends meet at the moment, but pensioners are in a particularly vulnerable position.
“Along with rising inflation and the increasing costs of fuel, energy and food, pensioners saw their state pension increase by just 3.1 percent in April because of the triple lock suspension.
“This is a really worrying time for people, particularly those relying on their state pension alone.”
As energy bills continue to soar, the finance expert emphasised how Pension Credit could be an essential lifeline to certain pensioners who are on low income.
She added: “Check if you’re eligible for additional financial support or welfare benefits such as Pension Credit – if so, you should claim it.
“Many people are missing out on benefits that they are entitled to, but this extra help can be a safety net during times of financial difficulty.
“Pension Credit is a tax-free payment, separate from your state pension, for those on a low income.
“It gives you extra money to help with your living costs and is also a gateway to other help such as council tax relief or support for dental care costs and the one-off cost of living payment of £650.”
Earlier this year, the Government rolled out its £650 cost of living payment for those on means-tested benefits, including Pension Credit.
Many eligible people have begun receiving the first part of this lump sum and will get the remaining £324 in the winter. For those eligible via tax credits, the instalments will begin to be paid from the autumn.
On top of this, state pensioners will be able to claim the Government’s extra £300 payment for older people during the cost of living risis.
All households will qualify for the £400 energy bill rebate which is due to begin to be rolled out sometime in the autumn.
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