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State pensioners born before 1953 urged to raise £475 before Christmas | Personal Finance | Finance
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State pensioners born before 1953 urged to raise £475 before Christmas | Personal Finance | Finance

State pensioners born before 1953 or 1951 are being asked to raise £475 before Christmas.

The Department for Work and Pensions (DWP) issued a reminder to people state pension the age at which they could be eligible for a host of additional financial aid this winter, and urged them to check if they are eligible.

Eligible pensioners can benefit from a Winter Fuel Payment worth £300, a Warm Home Discount worth £150 and a Cold Weather Payment worth of £25, making a total of £475 of free money.

One of the ways to qualify for the Winter fuel payment This is the case if you are claiming pension credit. You must have reached State pension be of the required age to qualify and have an income of less than £218.15 per week (or £332.95 if you are a couple).

This means that retirees who claim Basic State pension should be eligible for pension credit as it only amounts to £169.50. So, if you are a man born on or after April 6, 1951, or a woman born on or after April 6, 1953, you can apply for the benefit and, in turn, be eligible for the benefit. Winter fuel payment.

If you were born after 1953 and get the New State pensionYou will be paid at a rate of £221.20 per week, which is above the Pension Credit eligibility threshold, so you will only qualify if you have missed years of National Insurance and are not receiving full board.

In this case, you may not be entitled to pension credit or Winter fuel payment because your income is too high, unless the amount you receive is lower due to lack of years of national insurance coverage.

Those who meet the pension credit criteria should then get the Winter fuel paymentwhich is worth £200 or £300 to help cover heating costs this winter.

It is paid automatically in November or December and you should receive a letter telling you how much you are entitled to and which account the money will be paid into.

Pensioners born before 1953 can also benefit from the Warm Home Discount scheme, which offers a one-off £150 off your electricity bill. The rebate is usually paid automatically by your energy supplier, with the money applied directly to your bill rather than paid directly to you. You will be eligible if all of these three criteria apply on August 11, 2024:

  • your energy supplier is part of the program

  • your name (or that of your partner) is on the electricity bill

  • you or your partner benefit from the secured credit element of pension credit (even if you also benefit from savings credit)

If you qualify, your electricity provider will automatically apply the discount to your bill between early October 2023 and March 31, 2025.

Furthermore, the DWP will begin issuing cold weather payments to eligible households starting this month. The payments constitute an automatic bank top-up of £25, which is paid when the average temperature has been recorded or is expected to be at or below 0°C for seven consecutive days at the weather station linked to an eligible person’s postcode.

These payments of £25 for every seven days of very cold weather will be paid automatically to households receiving certain benefits, including Pension Credit. The money will appear on bank statements within 14 days between November 1, 2024 and March 31, 2025.

The payment reference to look for on your bank statement will start with your Social Security number followed by ‘DWP CWP’ for people in England and Wales.