MONEY expert, Martin Lewis, has issued an urgent warning to hundreds of thousands of pensioners who are missing out on “superpower” benefit, worth £3,900 a year.
The founder of MoneySavingExpert.com expressed his concerns following the Winter Fuel Payments cut.
“The targeting of Winter Fuel Payments is too narrow with the winter we have coming,” he claimed.
New figures showed that millions of people will get a rise of £460 to their state pension next year under what’s known as the “triple lock” guarantee.
Essentially, the full state pension figure will rise from £11,502.40 to £11,962 per year.
Weekly, this means an additional £9 per week due to an increase from £221.20 to £230.
However, the energy price cap is likely to grow by 10% this October and remain high throughout the winter.
Martin warns this simply won’t be enough to help pensioners afford their energy bills, as the rise will come into place from April next year.
While energy bills are around £100 cheaper than last year, Martin fears that pensioners who don’t claim Pension Credit won’t get the £300 Cost of Living Payment, nor the £300 Winter Fuel Payment.
This means they will still face paying £500 more than they did in 2023.
Ultimately, Martin worries that those just above the threshold will be the “hardest hit”.
It is believed around 880,000 pensioners qualify for the “superpower” benefit, however, few are claiming the handout.
The money expert recognises these are the people who need the help the most, but “due to difficulties in the system” they won’t receive it.
Martin wrote on X, formerly called Twitter: “They are very hard to reach and will be under huge financial pressure.
“These are therefore people the govt said should be helped but due to difficulties in the system won’t be.
“These are the people I’m most worried about, some of whom may end up choosing between heating and eating.”
At the start of September, Martin urged pensioners to claim the “superpower” benefit worth £3,900 a year.
What is Pension Credit?
Pension Credit gives people who are over the age of 66 and on a low income extra money to help with their living and housing costs.
The money is paid in addition to the state pension.
Up to 2.2 million people are eligible to claim the cash, which also entitles them to a host of other vital perks, including the Winter Fuel Payment.
In a recent MSE newsletter, Martin said: “The Government’s cut Winter Fuel Payments for millions of pensioners. Now, only the poorest, those on pension credit, will get them.
“Yet 880,000 who are due it don’t claim.”
It is essential that those who are entitled to Pension Credit make a claim this year.
This is because in July the Government announced that only those who claim Pension Credit will receive the Winter Fuel Allowance, which is worth up to £300 a year.
Pension Credit opens the door to a host of other benefits, such as Cost of Living Payments, Council Tax discounts and the Warm Home Discount Scheme.
Those who claim are also entitled to a free TV licence, help with NHS dental treatment and glasses.
Following the Government’s announcement, Pension Credit claims have doubled.
Around 38,500 claims have been made in the last five weeks since the automatic payment for all was axed, new figures from the Department for Work and Pensions (DWP) reveal.
In the five weeks preceding the shock move, there were 17,900 claims.
But despite the increase and a new push by the government to get those eligible to claim the benefit, it is estimated that around 880,000 people are still missing out.
Are you missing out on benefits?
YOU can use a benefits calculator to help check that you are not missing out on money you are entitled to
Charity Turn2Us’ benefits calculator works out what you could get.
Entitledto’s free calculator determines whether you qualify for various benefits, tax credit and Universal Credit.
MoneySavingExpert.com and charity StepChange both have benefits tools powered by Entitledto’s data.
You can use Policy in Practice’s calculator to determine which benefits you could receive and how much cash you’ll have left over each month after paying for housing costs.
Your exact entitlement will only be clear when you make a claim, but calculators can indicate what you might be eligible for.
Claim the Pension Credit if you can
HUNDREDS of thousands of pensioners are missing out on Pension Credit.The Sun’s Assistant Consumer Editor Lana Clements explains why it’s imperative to apply for the benefit.
Pension Credit is designed to top up the income of the UK’s poorest pensioners.
In itself the payment is a vital lifeline for older people with little income.
It will take weekly income up to to £218.15 if you’re single or joint income to £332.95.
Yet, an estimated 800,000 don’t claim this support. Not only are they missing on this cash, but far more extra support that is unlocked when claiming Pension Credit.
With the winter fuel payment – worth up to £300 now being restricted to pensioners claiming Pension Credit – it’s more important than ever to claim the benefit if you can.
Pension Credit also opens up help with housing costs, council tax or heating bills and even a free TV licence if you are 75 or older.
All this extra support can make a huge difference to the quality of life for a struggling pensioner.
It’s not difficult to apply for Pension Credit, you can do it up to four months before you reach state pension age through the government website or by calling 0800 99 1234.
You’ll just need your National Insurance number, as well as information about income, savings and investments.
