New measures to support pensioners amid inflation crisis in the UK

Chancellor Rishi Sunak has unveiled a new £15bn emergency package of measures to support households through the cost of living crisis but some pensioners risk missing out.

The government said pensioner households will receive an extra one-off Pensioner Cost of Living Payment of £300 to help with their bills and living costs, while more than 8 million low-income households on means tested benefits – which includes those receiving Pension Credit – will receive a one off £650 payment.

“While this is a much needed helping hand, according to Age UK nearly a million pensioner households are entitled to but do not receive normal Pension Credits and so could miss out on the additional £650 payment,” Jon Greer, head of retirement policy at Quilter, warned.

DWP figures from February 2022 show that there were 72,000 fewer recipients of normal Pension Credits against the previous year and nearly two thirds (65%) of people getting Pension Credit were women.

“There are numerous reasons why pensioners don’t claim their credits including a lack of awareness, feeling like they would not qualify and simply feeling that they do not want to take up the benefit because of a negative attitude to asking for help or feeling like a burden to the state.

“However, the message is clear if you don’t claim the credit, you won’t get the help and the government need to look at how they can publicise it effectively to qualifying pensioners. Even Sunak in his speech recognised that people would still fall through the cracks and not benefit from this policy even if eligible,” Greer added.

Read more @Yahoo Finance

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