Martin Lewis gives 1million Brits two-week warning to apply for £301 free money

May 3, 2023

Martin Lewis warned 1million Brits they could be eligible for the cost of living payment worth £301.

The MoneySavingExpert founder claimed people have just two weeks left to apply for the money.

Pension Credit is available to people who reached state pension age and are on a low income.

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But many households are missing out on this benefit.

If you're eligible, Pension Credit will top up your income to £201.05 per week for single people and £306.85 for couples.

Those entitled could be on average £3,500 a year better off, says the Department for Work and Pensions (DWP).

Pension Credit claimants are also entitled to the £301 cost of living payment.

It started to be sent out to households last week, but it can be backdated by three months.

Martin wrote in his newsletter: "There is a deadline for the nearly 1m pensioner households MISSING OUT on vital help they're entitled to.

"You've only until May 19 – two weeks away – to sign up for pension credit that'll trigger eligibility for the current £301 cost of living payment."

The Pension Credit is only available to those over the state pension age and live in England, Scotland or Wales.

Currently the age is 66 for both men and women, but is rising to 67 by 2028.

Pension Credit comes in two parts. You may be entitled to one or both elements, depending on your circumstances.

The Guarantee Credit element of Pension Credit tops up your weekly income to:

£201.05 if you're single
£306.85 if you have a partner

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Your income needs to be below these amounts to claim Guarantee Credit.

In some cases, you might be eligible if you have a higher income or a severe disability, carer or due to pay housing costs, like a mortgage.

If you reached State Pension age before April 6, 2016, or you have savings or a second pension, you may be eligible for the Savings Credit element of Pension Credit.

You could get up to:

£15.94 if you're single
£17.84 if you're a couple

Pension Credit allows you to receive other perks, like free TV licences for over-75s and help with housing costs, council tax, as well as heating bills.

To apply for Pension Credit, visit GOV.UK website, call 0800 99 1234, or print out and fill in the paper application form.

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