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Martin Lewis has issued a warning to pensioners who might miss out on a £301 fee from the federal government.
The buyer champion shared the recommendation on Wednesday’s Good Morning Britain, the place Mr Lewis helps viewers navigate the price of residing disaster in his Pockets Wednesdays phase.
He warned that round one million individuals have simply over two weeks to entry a Pension Credit score profit from the Division for Work and Pensions.
“Pension Credit score is a top-up profit that helps these of state pension age who are usually not getting sufficient earnings. Now, I’ve lengthy been saying there are a million pensioners within the UK eligible for it who don’t declare it. It is an absolute tragedy,” Mr Lewis informed viewers.
“They’ve paid into the system for all of their lives they usually’re not getting this essential top-up.”
He added that it’s a “actually essential” time to be accessing these funds.
“Whereas the present Value of Dwelling fee has already began being paid out and for most individuals the eligibility interval is over, Pension Credit score will be backdated, so what this implies is in case you are eligible you’ll get that £301 and you have till the 19 Might as a way to declare.
“Just by claiming Pension Credit score, even should you’re solely entitled to a small quantity, you’ll get the £301.”
The warning comes as greater than seven million households throughout the UK could have obtained a £301 cost-of-living fee by the top of Wednesday, the Division for Work and Pensions (DWP) has mentioned.
The funds are a part of a package deal of wider authorities help introduced to deal with the price of residing in 2023-24, together with an extra £300 fee for eligible households in autumn 2023, with a fee of £299 in spring 2024.
Mel Stride, work and pensions secretary, mentioned: “Paying greater than seven million households £301 in somewhat over every week underlines our dedication to make sure these on the bottom earnings are protected against the worst of rising costs and provides them peace of thoughts.”
Chancellor Jeremy Hunt mentioned: “We all know the affect that rising costs are having on households, which is why we’re offering important help to thousands and thousands via these direct money funds.”
Individuals might be eligible for the £301 cost-of-living fee if they’ve been entitled to a fee for sure advantages between 16 January and 15 February 2023, together with, for instance, common credit score, pension credit score and baby tax credit score.
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