Martin Lewis has issued an urgent warning for pensioners who could miss out on a £301 cost of living payment.
The money-saving expert said around one million eligible pensioners have still not claimed for pension credit. He highlighted that in order to claim and be eligible for some extra cash on the government, pensioners must do so within the next 24 hours.
Anyone over the state pension age with an income of less than £220 a week or couples with less than £320 a week can successfully claim pension credit. Because the claims can be backdated, this means you will also become eligible to receive the first cost of living payment from the Department for Work and Pensions (DWP).
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Appearing on ITV's Good Morning Britain, Mr Lewis said: "If you’re eligible for pension credit and you’re missing out you need to check now, today, or tomorrow or Friday at the latest, because if you are eligible then you get that extra £301."
He highlighted that some pensioners may not try and claim the payment because they think they'll only receive a small amount of money. Despite this, Mr Lewis explained the benefit can be "a gateway to so many more entitlements".
He added: "Even if pension credit itself is trivial, everything else it opens the door to is massive." The pension credit could entitle pensioners to the much larger cost of living payment from the government which is ultimately worth £900, council tax benefit, housing benefit, or even help pay for dental and optician bills.
He added: “Let us together as a nation work to try and get those million pensioners on the lowest incomes who are missing out to claim what they have paid into the system for years that they are entitled to.”
The Department of Work and Pensions also issued a warning on Twitter on Wednesday urging those eligible for pension credit to make sure they do not miss Friday's deadline. They tweeted: "2 days to go: Don't miss out on the £301 #CostOfLivingPayment as a recipient of #PensionCredit - submit your application for pension credit before 19 May.
"Did you know, if you get pension credit you could also get a free TV Licence if you are aged 75 or over?"
You must live in England, Scotland or Wales and have reached state pension age to qualify for pension credit.
For full details, eligibility and how to apply, click here.
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