State pension claimants may be eligible for the warm home discount scheme – full details | Personal Finance | Finance

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State pension claimants can receive additional benefits in retirement if they’re on a particularly low income or live with certain conditions. So long as claimants are eligible, they may be able to receive help with their council tax, winter bills and travel and TV costs.

For state pensioners on a particularly low income, it may also be possible to receive pension credit, an income-related benefit made up of two parts.

Pension credit will top up weekly income if retirees receive less than £173.75 (for single people) or £265.20 for (for couples).

The additional payments will be made through guarantee credit and/or savings credit, which is only awarded to certain claimants who have saved some money towards their retirement.

Guarantee credit will top up income to either £173.75 or £265.20 per week, with savings credit adding an additional £13.97 or £15.62 for couples.

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Pension credit claimants will qualify for the discount if on July 5 2020 their energy supplier was part of the scheme and their name (or their partner’s) was on the bill, which would have put them in the “core group”.

So long as a person is eligible under these rules, their electricity supplier should apply the discount to their bill by March 31 2021.

Where a person is unsure of their eligibility, they’ll be able to contact a warm home discount helpline for assistance.

Those who do not qualify through pension credit may still be eligible if they’re on a low income or claiming other means-tested benefits, known as the “broader group”.

Claims for pension credit itself can be made up to four months before reaching state pension age, which is currently 66 but will be increasing to 68 in the coming years.

Claims can be made at any time after reaching state pension age but they can only be backdated by up to three months.

To apply for pension credit, a person will need their National Insurance number, information on their income, savings and investments and bank account details ready.

Applications can be made online, over the phone or through the post.

Do you have a money dilemma which you’d like a financial expert’s opinion on? If you would like to ask one of our finance experts a question, please email your query to personal.finance@reachplc.com. 





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