Martin Lewis issued a stark warning about cost of living payments to older people across the country during the latest episode of his Money Show Live on STV. The financial guru said that “millions of State Pensioners” will miss out on the £900 payment unless they claim a specific benefit from the Department for Work and Pensions (DWP).
He also shared his predictions for possible delivery dates for the next round of the UK Government’s cost of living payments, worth up to £1,350 per household, which are set to be issued over the next financial year, starting this spring. But his main focus was on older people who are eligible for Pension Credit, a means-tested benefit, yet are not claiming it and could miss out on £900 in cost of living payments.
Pension Credit provides older people on a low income with an annual top-up of more than £3,500 and acts like a passport to other support, such as help with housing costs, heating bills and a Council Tax Reduction.
