Intuitive Machines Stock Holds Strong Buy Rating with Promising $11 Price Target
Title: Pensioners Urged to Claim Support as Winter Fuel Payments Are Cut
With the government recently announcing significant cuts to the winter fuel payment scheme, millions of pensioners across the UK are facing a challenging winter. The changes will drastically reduce the number of pensioners eligible for this critical support, from 11.4 million down to just 1.5 million. This move is expected to save the Treasury around £1.4 billion this financial year, but it leaves many elderly individuals at risk of struggling to keep warm during the colder months.
Also Read:- Intuitive Machines Stock Holds Strong Buy Rating with Promising $11 Price Target
- Intuitive Machines Stock Holds Strong Buy Rating with Promising $11 Price Target
For those unaware, the winter fuel payment has been a lifeline for pensioners since its introduction, offering between £100 and £300 to help cover the costs of heating during the winter. However, the new policy restricts this benefit primarily to those who are already receiving pension credit or other means-tested benefits. This change has sparked concern among pensioner groups and charities, who warn that many will be left to choose between heating their homes and other essential needs.
Despite these cuts, there is still hope for those who may be eligible for pension credit but have not yet claimed it. The government is encouraging nearly 880,000 low-income pensioner households, who currently miss out on this support, to apply. Pension credit not only boosts annual income by an average of £3,900 but also opens the door to other benefits, including the winter fuel payment, help with housing costs, and reduced council tax. The deadline to apply for pension credit and receive backdated payments, including this winter’s fuel support, is 21 December.
Work and Pensions Secretary Liz Kendall emphasized the importance of supporting low-income pensioners amidst these difficult decisions. While acknowledging the tough financial situation inherited by the current government, she urged pensioners to check their eligibility and apply for pension credit as soon as possible. This plea is echoed by charities and local authorities, who will be collaborating with the government in a nationwide pension credit awareness campaign starting this September.
The campaign aims to dispel common misconceptions about pension credit eligibility, such as the belief that having savings or owning a home disqualifies applicants. With an estimated 850,000 to 880,000 pensioners potentially missing out on this vital support, the government is striving to ensure that as many eligible individuals as possible receive the assistance they need.
So, while the reduction in winter fuel payments is a blow to many, pensioners are being urged not to miss out on the additional support available through pension credit. This benefit could make all the difference in ensuring a warmer, more secure winter for those struggling to make ends meet.
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