Pensioners worried and worried about their financial future may be able to claim £3,000 a year under a DWP benefit. Retirees are now urged to take matters into their own hands and ask for more support.
The advice follows Rishi Sunak’s spring statement on Wednesday March 23, which was widely criticized by critics including Money Saving Expert Lewis. One of the means of support is the pension credit, also known as the “bridging” benefit.
This provides additional financial assistance with bills to low income people. Applicants are entitled to a range of supports such as free TV licenses if they are over 75, cold weather payments and help with NHS costs.
The pension credit boosts weekly income to £177.10 for singles and joint weekly income to £270.30 for couples in a process known as collateral credit. As reported by YorkshireLivepeople who have saved money for retirement may be eligible for an additional sum called a savings credit – although they must have reached retirement age before 6 April 2016.
The soaring cost of living is putting household budgets under pressure, with some having to choose between heating and food.
Here are some resources available if you need help.
Advice to citizens
Citizens Advice is an independent charity providing free, confidential assistance with legal, consumer, housing, debt and other issues. His website details what help is available and where your nearest office is, for face-to-face advice.
Helpline : 0800 144 8848 (open 9 a.m. to 5 p.m., Monday to Friday)
The Trussell Trust
The Trussell Trust supports a national network of over 1,200 food banks, providing free emergency food to those in need. You can use his website to locate support wherever you live.
Hotline: 0808 208 2138 (open 9 a.m. to 5 p.m., Monday to Friday)
Turn2us is a national charity that provides practical support for people in financial difficulty. His website includes a benefits calculator and details about programs and subsidies in your area, including energy and water bills.
Hotline: 0808 802 2000 (open 9 a.m. to 5 p.m., Monday to Friday)
What is the pension credit?
You can access financial support and increase your state pension through pension credit if you are not comfortable. The pension credit is a means-tested benefit, ie it is based on your income.
This boost would indeed supplement your state pension. The pension credit has two parts, called guarantee credit and savings credit.
Which? say that about four million people qualify for the pension credit. The shock is that a third of them do not claim it.
Rishi Sunak, Britain’s Chancellor of the Exchequer, unveiled a number of measures in the spring statement. He revealed that the National Insurance payment threshold would be increased to £12,570, there would be a reduction in fuel tax and homeowners would pay 0% VAT on energy efficient materials such as solar panels or heat pumps over the next five years.
Mr Sunak also shared a new “tax plan” which he said will “help families meet the cost of living”, “create the conditions for higher growth” and “share the proceeds of poverty equitably”. growth”. asserts that movement is not enough.
Money-saving expert Martin Lewis also commented on the statement via social media, writing: “If that’s all it does on energy, it’s limited and won’t have any impact. impact on the majority of households who are likely to see an average increase of £1300 in a year – annual bills by October My head sank.
Head of Policy and Influencing at Independent Age, Morgan Vine said: ‘The Chancellor’s statement will have only heightened the anxieties many older people feel as they prepare for a difficult year ahead. . As the cost of living crisis takes hold, seniors on limited incomes desperately need immediate and meaningful action to help with the cost of living.
“The declaration falls far short of that goal. It will make no difference to older people who are already struggling to afford essentials like heat and food.”
Vine added: “The alarm bells should be ringing at the Treasury, but the Chancellor doesn’t seem to get the message. next year will not help the 2.1 million seniors who are currently struggling.