New research from HUB Financial Solutions suggests that more than 720,000 people over State Pension age checked their eligibility for benefits last year following the UK Government’s delivery of a series of cost of living payments. Millions of low income, vulnerable, disabled and pensioner households received one-off payments to help them combat double-digit inflation, soaring energy bills and rising food and fuel costs.
The 2023/24 cost of living support package is worth £26billion and will provide extra cash support periodically throughout the financial year to millions of households. This includes payments of £900 (paid in three instalments of £301, £300 and £299) for those on means-tested benefits, including Pension Credit, £150 for those claiming disability benefits, including Attendance Allowance and a £300 top-up to the Winter Fuel Payment, which helps pensioner households during the colder months.
The advisory firm’s research found that a third (33%) of over 65s said they had checked their entitlement to benefits in the last year. Of these people, around one in five (19%) said that they had done so because of the government’s means-tested financial help aimed at supporting those on benefits through the cost of living crisis - around 720,000 people.
