Money Wellness

cost of living

Published 26 Feb 2024

2 min read

Nine days left for pensioners to get a £299 boost

Hundreds and thousands of pensioners could pocket an extra £299 if they claim pension credit in the next nine days.

Image of a pensioner holding a coin purse in the foreground. Pensioners urged to claim pension credit to get backdated cost of living £299 payment
Caroline Chell - Money Wellness

Written by: Caroline Chell

Head of Communications

Published: 26 February 2024

Those who successfully apply for pension credit before 5 March could also secure a further £299 cost of living payment thanks to backdating rules.

Pension credit, which is worth £3,900 on average a year, is there to help low-income retirees with everyday living expenses.

Around 1.4 million pensioners already receive pension credit. However, it remains one of the most underclaimed benefits with around a further 880,000 eligible pensioners yet to claim it.

For single pensioners, pension credit guarantees a minimum weekly income of £201.05. And it’s worth £306.85 for couples. Additional help is also available for those with disabilities or caring responsibilities.

Claiming pension credit – even is it’s a small amount - can also open the door to other financial support, such as help with housing costs, council tax, and heating bills, as well as the £299 backdated cost of living payment.

You can apply for pension credit by:

You can use our free benefits checker to see if you’re eligible for pension credit or to make sure you’re not missing out on extra help.

Caroline Chell - Money Wellness

Written by: Caroline Chell

Head of Communications

Caroline has worked in financial communications for more than 10 years, writing content on subjects such as pensions, mortgages, loans and credit cards, as well as stockbroking and investment advice.

Published: 26 February 2024

The information in this post was correct at the time of publishing. Please check when it was written, as information can go out of date over time.

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Caroline Chell - Money Wellness

Written by: Caroline Chell

Head of Communications

Published: 26 February 2024

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