Pensioners urged to check for missing £500 payments soon

Martin Lewis has raised concerns for state pensioners who may soon find themselves financially disadvantaged due to upcoming changes in government payments. The scrapping of the £300 Winter Fuel Payment and the £300 Cost of Living Payment means that many pensioners could be missing out on a total of £600. Previously, these payments were universal, but now they are contingent upon claiming Pension Credit, which has seen low uptake among eligible individuals. During an appearance on ITV's Good Morning Britain, Lewis emphasized the importance of claiming Pension Credit, as it is now crucial for accessing the Winter Fuel Payment. He pointed out that many pensioners will not receive the upcoming Winter Fuel Payment because it is no longer automatically granted to all. Additionally, the loss of the Cost of Living payment, which was provided to every pensioner over the last two winters, further exacerbates the financial strain on this demographic. Lewis also discussed the current state of energy bills, noting that while they are lower than last year, the reduction is only about £100 over a six-month period. This means that pensioners are effectively £600 worse off compared to the previous year, despite a small gain in energy costs. The financial landscape for pensioners is becoming increasingly challenging, and the need for financial support is more pressing than ever. The finance expert lamented the chronic underclaiming of Pension Credit, urging pensioners to check their eligibility. With significant changes on the horizon, it is vital for those who qualify to take action to secure the financial support they need.