Pensioners could get an extra £305 a week to help with living costs due to benefit uplift | Personal Finance | Finance

Jeremy Hunt announced in his Autumn Statement that the state pension and benefits were to increase alongside September’s CPI figures from April next year. This means weekly payments of the state pension will rise to either £156.20 or £203.85, depending on the pension a person receives. One of the other benefits which will see a 10.1 percent increase is Pension Credit.

Next April, Pension Credit weekly payment rates will rise to £201 for a single person and £305.85 for a couple.

This is up £18.45 from £182.80 for single people and up £28.15 from £278 for couples.

In his statement to the House of Commons on Thursday, Mr Hunt said: “To support the poorest pensioners, I have decided to increase the Pension Credit by 10.1 percent.

“This is worth up to £1,470 for a couple and £960 for a single pensioner in our most vulnerable households.

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“But the cost of living crisis is harming all pensioners so because we have taken difficult decisions elsewhere in this statement,

“I can today announce that we will fulfil our pledge to the country to protect the pensions Triple Lock.”

Mr Hunt also announced Further Cost of Living payments for low-income households and a £300 support payment to pensioner households.

Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown described the news as a “welcome surprise” for pensioners on low incomes.

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Although it is too late to claim the £326 July Cost Of Living payment, the DWP recently confirmed that it is not too late for older people to make a new claim for Pension Credit and qualify for the second means-tested cost of living payment, worth £324.

For someone to be eligible, they must have been entitled to a payment of Pension Credit on or before the qualifying date of September 25, 2022.

As Pension Credit can be backdated by three months, Britons can put in a claim and therefore qualify for the £324 payment.

The DWP has urged people to put in a claim as soon as possible and reported that the last date on which a person can put in a claim and successfully backdate it is December 18, 2022.

The DWP explained: “People do not have to do anything extra to backdate their claim. If they make their application online, they will automatically be asked about backdating, and if they make their application over the phone the adviser will talk them through this.”

People can check their eligibility for Pension Credit using the online calculator or by calling the Pension Credit helpline on 0800 99 1234.