Thousands of Brits have until TOMORROW to apply for £299 cash for living expenses

THOUSANDS of households have until tomorrow to claim the final living expenses payment worth £299.

More than 1.4 million retirees receive a pension credit, making them eligible for the free money.

3

3

But there are still 850,000 retirees who are eligible for the benefit and are not claiming it.

This means they risk missing out on the £299 payment, which must be claimed by March 5.

To receive the first payment, you must have received at least one of the seven benefits, including pension credits, between November 13 and December 12.

It doesn’t matter if you only qualified for one day. As long as this day fell within the qualifying period, you will receive payment for living expenses.

The same rule applies to new pension credit applications, which can be applied for up to three months retroactively.

This means thousands more people could qualify for the money by signing up before March 5.

If you submit your claim later, the DWP may not be able to process your claim in time.

Living expenses are paid in three installments, but it is now too late to receive the first two.

But the final payment which is still worth £299 can still be claimed.

Who is eligible for a pension discount?

Pension credit is available to people who have reached state pension age and live in England. Scotland or Wales.

This currently increases to 66 years for both men and women.

Previously, couples where one person had reached state pension age could claim retirement age, but new rules now mean that both people in a couple must be over retirement age to apply.

This means that if you are single and live with a partner who is younger than the state pension age, you are no longer eligible.

But if you are already receiving a pension under the old system, this will not stop unless your circumstances change.

To qualify, you must have a weekly income of less than €201.05 for singles or €306.85 for couples.

When calculating your income, various elements are taken into account, including:

• Your state pension
• Any other pensions you have saved, for example pension savings at the workplace or privately
• Most social security benefits, for example the informal care allowance
• All savings or investments worth more than € 10,000
• Income from a job

The calculation does not include:

• Attendance allowance
• Christmas bonus
• Housing benefit for the disabled
• Personal independence allowance
• Rent subsidy
• Municipal tax reduction

If your income is too high to get pension credit, you may still be able to get some savings pension credit, so it’s worth checking.

How much can I get in pension credit?

The benefit consists of two parts and retirees may be eligible for one or both parts. These are the current rates for the tax year:

• Guarantee credit – supplements your weekly income to a guaranteed minimum level. This is £201.05 per week if you are single and £306.85 per week for married couples.
• Savings credit – offers extra money if you have saved money for your pension. You can get an extra £15.94 per week for a single person or £17.84 per week for a married couple.

You can also receive an additional pension discount if you are disabled, have caring responsibilities or have to pay certain housing costs, such as mortgage interest.

For example, you could get €61.88 per week or €72.31 per week for each child or young person you are responsible for.

If you are disabled or care for someone who is disabled, you may get more.

For example, if you have a severe disability, you can get an extra €76.40 per week. If you care for another adult, you can get an extra €42.75 per week.

How do I get paid?

Your benefits are usually paid into an account, such as a bank account.

They are usually paid every four weeks.

When you make a claim you will be asked for details of your bank, building society or credit union.

But if you’re having trouble opening or managing an account, you may be able to claim in another way.

What else can you get on the Pension Credit?

Pension Credit is known as a ‘gateway’ benefit as it offers a host of other discounts and freebies.

If you claim it, you may be able to get help with housing benefit, if you have a rental property, and a discount on council tax.

This also makes you eligible for living expenses payments and the Warm Home Discount scheme.

If you are 75 years or older, you can also get a free TV license. You can claim your free copy by calling 0300 790 6117.

You can also register online via the TV Licensing website.

3