THOUSANDS who are eligible but don't claim pension credit could miss out on the £650 cost of living payment.

The first half of the £650 cost of living payment is already hitting people's bank accounts – but some should act fast to secure the payment now.

Over a million people claiming pension credit have started receiving a £326 cost of living payment but many could be missing out if they don't put in fresh claims for pension credit NOW.

The £650 cost of living payment was first announced by the former Chancellor, Rishi Sunak in May.

The first instalment is worth £326 and it's the first of a series of payments many people will get this year, and the second half worth £324 is due in Autumn.

To get the first payment, you will need to be in receipt of any of these eligible benefit payments – including pension credit as of May 25 this year. You could claim after this date and later be successful.


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However, close to a million pensioners are not claiming pension credit and hence ineligible for the cost of living payment right now.

According to the Department for Work and Pensions' own research, an estimated 850,000 households are not claiming pension credit worth £1.7 billion – meaning many are missing out on the cost of living payment.

Charity, Age UK is urging older people to put in a claim for pension credit if they think they're eligible.

Caroline Abrahams, Charity Director at Age UK, said: “There’s still time for people to qualify for the £650 cost of living payment.

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"We’re urging any older person who’s struggling at the moment to put in a claim for Pension Credit before the 18th August.

You can find out if you're eligible for pension credit by using the government's online tool.

What is pension credit?

Pension credit is offered in two parts – guarantee credit and savings credit. You may be eligible to both.

Guarantee credit is a top-up to your weekly income and savings credit is an extra boost if you've got saving or a higher income.

Caroline Abrahams, Charity Director at Age UK, said: “Pension Credit not only provides an income boost and eligibility for the £650 payment, it opens the door to loads of other support including help with energy bills and council tax, NHS dental treatment and a free TV licence (for the over 75s).

Am I too late to apply for pension credit to get the £650?

No. Pension credit claims can be backdated by up to three months.

To have qualified for the £650 cost of living payment you'll have needed to have been eligible during the qualifying period between April 26 and May 25.

It doesn't matter if you were only eligible for a day – as long as this day was within the qualifying period you'll get the cost of living payment.

When's the cut off to apply for pension credit?

You'll need to put in your claim to the DWP by the 18 August to ensure that your claim can be backdated to the qualifying period.

If you put in your claim any later than this – the DWP may be unable to process your claim in time.

If you miss the deadline your claim won't be backdated all the way back to the qualifying period for the £650.

How do I apply for pension credit?

To claim pension credit, you can either:

  • Claim online
  • Call the pension credit claim line on 0800 99 1234

Before you make a claim it's important to have all your details to hand.

You'll need your National Insurance number, bank account details and information about your income, savings and investments.

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Will pensions get more help?

Pensioners will get further help later on in the year to help with their energy bills once the temperatures drop.

They'll get an extra £300 one-off payment during the coldest months and those with disabilities will be handed £150.

Cost of living payments: what you need to know

  • All the key dates for cost of living payments revealed
  • Every household will get a £400 cost of living payment to help with energy bills
  • See the full list of benefits eligible for £650 cost of living cash
  • Here's free cash you can get if you DON’T qualify for the £650 cost of living payment
  • Millions of pensioners will get a £300 cost of living payment this winter
  • Disabled Brits will get £150 this September
  • Parents can get up to £200 towards school uniform costs

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