PRESS RELEASE : Ten Days to claim Pension Credit and qualify for £301 Cost of Living Payment [May 2023]

The press release issued by the Department for Work and Pensions on 9 May 2023.

All pensioners on a low income should check if they qualify for Pension Credit in order to also receive a Cost of Living Payment.

• Pensioners urged to check if they could be eligible for Pension Credit, worth over £3,500 a year on average
• Those who successfully claim by 19 May could also receive a £301 Cost of Living payment – demonstrating Government’s focus on delivering the five priorities, including halving inflation, growing the economy and reducing debt
• Pensioners can check their eligibility and get an estimate of what they may receive by using the online Pension Credit calculator

There are just ten days to go for people to claim Pension Credit and still qualify for the latest £301 payment, which they will receive direct into their bank accounts.

Provided a claim is made before 19 May, it can be backdated for up to three months so long as the applicant was also eligible to receive it during that time.

This builds on the extensive support that was delivered to pensioners last year, alongside measures such as holding down households’ energy bills and freezing fuel and alcohol duty, which deliver on Government’s priorities to halve inflation and grow the economy.

Minister for Pensions Laura Trott said:

“Pension Credit can make a real difference and I am determined to make sure this support – worth an average of £3,500 a year – is reaching everyone who needs it, particularly as we know how much pressure households across the country have been under.

“Please check if you or your loved ones can claim for this extra support, and if you do it by 19 May you could qualify for the £301 Cost of Living Payment – giving another financial boost to those who need it most.”

Pension Credit is designed to help people over State Pension age and on a low income with daily living costs, though you do not need to be in receipt of State Pension to receive it.

It tops up a person’s income to a minimum of £201.05 per week for single pensioners and to £306.85 for couples or more if a person has a disability or caring responsibilities.

Worth on average over £3,500 a year, even a small Pension Credit award can provide access to a wide range of other benefits – such as help with housing costs, council tax or heating bills – in addition to the extra cost of living payments, worth up to £900 this financial year.