CashNews.co
Pensioners have been urged to do an important DWP check which could boost their finances by £4,300 as a deadline looms.
Labour is changing the eligibility for the Winter Fuel Payment this winter, with millions of pensioners no longer eligible for the support, as only those on means-tested benefits will qualify.
But one of the eligible benefits is the hugely underclaimed Pension Credit, with hundreds of thousands of pensioners missing out on the support.
A typical claim is worth £4,000, so if you miss out on this and the Winter Fuel Payment, worth either £200 or £300 this year, you could be missing an extra £4,300 towards your household finances.
Tom Barrett, financial wellbeing expert at occupational charity caba, warned there is an important deadline coming up to apply for the benefit.
He said: “We would advise people to check whether they are in receipt of all of their benefit entitlement. Currently, around 800,000 eligible people do not claim Pension Credit.
“Entitlement to Pension Credit will also trigger entitlement to the Winter Fuel Payment, as well as other benefits such as housing benefit.
“There is an absolute deadline of December 21, 2024, to apply for Pension Credit in order to be entitled to the winter fuel payment for this winter. People can check benefit entitlement using caba’s benefits calculator.”
Pension Credit supports people on low incomes providing a top up to their weekly income and other payments depending on your situation.
Single claimants get a top up to £218.15 a week while couples get their income topped up to £332.95 a week.
Mr Barrett encouraged pensioners losing access to the Winter Fuel Payment this winter without to reach out for support if needed.
He said: “Although you can’t wave away financial anxiety overnight, there are proactive steps you can take to ease financial worries and feel prepared for the upcoming changes to winter fuel payments. Budgeting is one way to help reduce feelings of money anxiety and make you feel more in control.
“While living on less money might mean an adjustment to your lifestyle, using a variety of budgeting tools can help you get into sustainable spending habits and help you manage your money better.
“By having a clearer picture of your income and expenditure, you can hopefully keep your finances on track. Using budgeting tools will also highlight any budget deficit earlier, enabling you to take preventative steps such as seeking debt advice sooner, before the issue grows into a larger problem.”