Pension Credit: Find out if you Qualify for the £650 Cost-of-Living Payment

The Department for Work and Pensions recently launched a new campaign called pension credit, designed to help those of pension age with the cost of living crisis. Rishi Sunak, chancellor of the exchequer, has announced that those who receive means-tested benefits can receive an extra £650 payment. Pension credit is among those benefits that qualify.

In the UK there are around 850,000 pensioner households, many of those from these households have yet to claim pension credit. Those of pension age are now being reminded to find out if they are eligible. Helen Morrissey, senior pensions and retirement analyst from Hargreaves Lansdown said ‘We’ve got this £650 cost of living support for people who are on Pension Credit. It's woefully underclaimed and I think the Chancellor did mention that in his speech’. 

To receive the extra payment, you must have been eligible for pension credit on the qualifying day of May 25, 2022. With this method, your claim is backdated for three months, making you eligible for the full £650 cost-of-living payment, but make sure to do this by the deadline of August 24, 2022. If you are eligible for pension credit after May 25, 2022, or if you apply soon after August 25, 2022, you will be entitled to a £325 cost-of-living payment. 

To find out If you or someone you know are entitled to this benefit please click the GOV UK’s Credit Pension Calculator link or call our helpline on 01302 812345 to find out more.