Latest news with #MoneyHelper
Daily Mirror
3 days ago
- Business
- Daily Mirror
People over state pension age may be due benefits worth thousands
There are a range of discounts, benefits, and grants available to those over the state pension age - and you could be eligible without even knowing it There are 13 million people over the state pension age of 66 in the UK. But only 1.7 million receive the full new state pension of £230.25 per week. As a result, potentially millions may be unaware of the additional support, benefits and discounts they are owed. The official MoneyHelper website has compiled a list of bonuses that could supplement your retirement income, without affecting state pension payments, as reported by the Daily Record. One of the first points to check is your state pension. Recent errors have resulted in people being underpaid by thousands in their state pensions, so checking your National Insurance record could provide a hefty increase in your retirement income. You need a full 35 years of National Insurance contributions to receive the £230.25 per week and at least 10 to qualify for any of the new state pension. If you are not receiving the full state pension amount, you might be eligible for Pension Credit. This income supplement can add £4,300 each year and also grants access to a variety of other benefits and discounts, such as a free TV licence for those over 75. provides a Pension Credit calculator which can help determine if you're eligible for this support. Currently, Pension Credit is one of the most underclaimed benefits, with eligible individuals missing out on approximately £1.5 billion each year. A variety of health benefits are available to help cover the extra costs associated with illnesses and disabilities, some of which are exclusively for individuals over the state pension age. If you claimed PIP or DLA before reaching the state pension age, you might still be eligible to continue getting your award until it expires. On the other hand, Attendance Allowance is made specifically for disabled or ill people over the state pension age. It can range from £73.90 to £110.40 per week, depending on the level of assistance or supervision required. Beyond the benefits system, there are numerous discounts available for those over the state pension age. This includes assistance with council tax, regardless of whether you rent or own your property. If you receive a disability or carer's benefit or the Guarantee Credit part of Pension Credit, you could be entitled to a larger council tax reduction. The latter might even cover your entire council tax bill. Another discount available to those over the state pension age is a free passport. To qualify, you must have been born on or before 2 September 1929 and be a British national. Lastly, a variety of travel concessions and schemes are available to those aged 60 and above. These include the 60+ London Oyster photocard, the Freedom Pass, Senior Railcards and free bus passes.
South Wales Argus
4 days ago
- Business
- South Wales Argus
Average wedding guest spends nearly £700 on celebrations
The Money and Pensions Service (MaPS) found that each guest averages a spend of £692, including travel and accommodation, new clothes, and presents. Most guests attend three celebrations annually, accumulating costs of more than £2,000. This expense is significantly higher for people aged 25 to 34 who attend six celebrations per year, with their costs rising to nearly £4,500. In Wales, the strain of these expenses is no less significant. Wales manager at the Money and Pensions Service Lee Phillips said: "Attending a wedding or civil partnership can put a strain on your finances, as the cost of gifts, travel and accommodation, new outfits, and childcare can really start to add up, especially as celebrations can go on for 2-3 days. "To support managing your money around expensive milestones, use MoneyHelper – particularly ahead of the spring and summer which is considered the peak season for these celebrations."
BBC News
4 days ago
- Business
- BBC News
Breathing Space
Imagine you're stuck in a leaking boat. Water is pouring in, you're exhausted, panicking, and feel like you're about to imagine someone throws you a lifeline — they patch the holes, give you a moment to breathe, and let you rest while a support team comes to help fix the boat what the Breathing Space scheme is. It doesn't magically erase your debt — but it stops the pressure. No calls from creditors, no new interest piling on, no court action. Breathing Space protects you while you seek debt advice and work towards a debt solution with a regulated debt adviser. It lasts for up to 60 days, and you can apply for it once every 12 more information on how the government scheme works, click here, find out more information, including eligibility criteria, how to apply, and details for the Mental Health Crisis Breathing Space scheme click here , externalto visit the StepChange website and here, external for the MoneyHelper find a free regulated debt adviser, click here, watch Laura's previous item on Individual Voluntary Arrangements and Debt Relief Orders, click on the below link to watch back on BBC iPlayer.
Wales Online
24-04-2025
- Business
- Wales Online
DWP benefits you can claim after reaching State Pension age
Across Great Britain, some 13 million individuals have now reached State Pension age. The contributory benefit serves as the primary income source for many retirees, providing crucial financial support of up to £921 every four weeks for 4.1m recipients of the New State Pension. Around 8.8m pensioners receive up to £705.80 each pay period through the Basic State Pension. For those nearing the official retirement age, it's important to be aware of certain benefits claimable from the DWP, along with Council Tax discounts, heating cost assistance, and more. Likewise, those already receiving State Pension payments may not know of over a dozen ways they could potentially increase their current income in the coming months. Most of these are benefits that don't affect State Pension payments. Pension Credit is currently worth an average of £4,300 annually and typically takes about 50 working days to process, meaning successful claimants could see their first payments arrive before mid-July. Sign up for the North Wales Live newsletter sent twice daily to your inbox To simplify understanding and claiming these benefits, discounts, or reductions, the MoneyHelper website has put together a comprehensive list, complete with quick eligibility checks to ensure older individuals are accessing vital support in later life, reports the Daily Record. If you have an older family member or friends who do not have access to the internet, or is not familiar with using a computer, give them a hand to ensure they are not missing out on additional financial support in 2025. Benefits for people over State Pension age Benefits and discounts available in retirement include: State Pension Pension Credit Help with Council Tax Help with heating costs - eligibility for some may require a relevant qualifying means-tested benefit Health benefits - Attendance Allowance, Pension Age Disability Payment Travel and TV benefits Benefits for war widows and widowers State Pension The State Pension gives you a regular taxable income for the rest of your life as soon as you reach State Pension age and make a claim for it. Some people choose to defer this while they continue to work. It's not means-tested, but the amount you get depends on how many qualifying years of National Insurance Contributions or credits you've built up. You need at least 10 years' for any State Pension payment and around 35 for the maximum amount - this may be more for people who were 'contracted out', find out more here. State Pension weekly payment rates 2025/26 Full New State Pension: £230.25 Full Basic State Pension (Category A or B): £176.45 Pension Credit Pension Credit currently gives 1.4m people across the UK extra money to help with living costs if they are over State Pension age and on a low income. It is a 'passport' benefit providing on average around £4,300 each year in financial support, acting as a 'gateway' to Council Tax discounts, help with housing costs and NHS discounts along with free TV Licences for the over-75s. Try the Pension Credit Calculator on for yourself or a family member to make sure you're receiving all the financial support you are entitled to. You can also call the Pension Credit helpline on 0800 99 1234. Help with Council Tax Whether you own your home or rent, you could be eligible for support from your local authority to help you pay your Council Tax. Contact your local council to ask about support with Council Tax. Insulation and heating schemes There are a number of schemes that install insulation and heating improvements to make your home more energy efficient. You're likely to be eligible if your home is poorly insulated or doesn't have a working central heating system, and if you receive any of a range of income-related benefits including Pension Credit. Disability and care benefits A number of benefits are available to people who have disabilities, long-term health conditions or specific care needs. These benefits include: Personal Independence Payment (PIP) - if you're under State Pension age, if you reached State Pension age while claiming PIP this will continue (PIP) - if you're under State Pension age, if you reached State Pension age while claiming PIP this will continue Disability Living Allowance (DLA) - you will need to have been already claiming this before you reached State Pension age (DLA) - you will need to have been already claiming this before you reached State Pension age Attendance Allowance - if you're over State Pension age and have not claimed DLA or PIP Free passport If you were born on or before September 2, 1929, and are a British national, you could be eligible for a free passport. Find out more and how to apply on the website here. Free / Discounted TV Licence You now have to pay for your TV licence unless you are getting Pension Credit. People over State Pension age may be able to get the TV Licence for half price if they are registered as severely sight-impaired or blind. Benefits for war widows and widowers If your husband, wife or civil partner died or were injured or became ill as a result of their service in Her Majesty's (HM) Armed Forces, or during a time of war before April 6, 2005, you might be entitled to a War Widow's or Widower's Pension. If they died or sustained an injury or illness due to serving in a conflict after April 6, 2005, you might be entitled to compensation through the Armed Forces Compensation Scheme. Find out more about War widows and widowers' pensions and compensation on the website here. Medical costs for war pensioners If you need medical treatment because you were disabled while serving in the Armed Forces, you could get help towards your medical costs for your accepted disability. War Disablement Pension If you were injured or disabled while serving in the Armed Forces before April 6, 2005, you can get extra help towards your pension. Find out more about War Disablement Pension on the website here . Find out what's happening near you
North Wales Live
24-04-2025
- Business
- North Wales Live
DWP benefits you can claim after reaching State Pension age
Across Great Britain, some 13 million individuals have now reached State Pension age. The contributory benefit serves as the primary income source for many retirees, providing crucial financial support of up to £921 every four weeks for 4.1m recipients of the New State Pension. Around 8.8m pensioners receive up to £705.80 each pay period through the Basic State Pension. For those nearing the official retirement age, it's important to be aware of certain benefits claimable from the DWP, along with Council Tax discounts, heating cost assistance, and more. Likewise, those already receiving State Pension payments may not know of over a dozen ways they could potentially increase their current income in the coming months. Most of these are benefits that don't affect State Pension payments. Pension Credit is currently worth an average of £4,300 annually and typically takes about 50 working days to process, meaning successful claimants could see their first payments arrive before mid-July. Sign up for the North Wales Live newsletter sent twice daily to your inbox To simplify understanding and claiming these benefits, discounts, or reductions, the MoneyHelper website has put together a comprehensive list, complete with quick eligibility checks to ensure older individuals are accessing vital support in later life, reports the Daily Record. If you have an older family member or friends who do not have access to the internet, or is not familiar with using a computer, give them a hand to ensure they are not missing out on additional financial support in 2025. Benefits for people over State Pension age Benefits and discounts available in retirement include: State Pension Pension Credit Help with Council Tax Help with heating costs - eligibility for some may require a relevant qualifying means-tested benefit Health benefits - Attendance Allowance, Pension Age Disability Payment Travel and TV benefits Benefits for war widows and widowers State Pension The State Pension gives you a regular taxable income for the rest of your life as soon as you reach State Pension age and make a claim for it. Some people choose to defer this while they continue to work. It's not means-tested, but the amount you get depends on how many qualifying years of National Insurance Contributions or credits you've built up. You need at least 10 years' for any State Pension payment and around 35 for the maximum amount - this may be more for people who were 'contracted out', find out more here. State Pension weekly payment rates 2025/26 Full New State Pension: £230.25 Full Basic State Pension (Category A or B): £176.45 Pension Credit Pension Credit currently gives 1.4m people across the UK extra money to help with living costs if they are over State Pension age and on a low income. It is a 'passport' benefit providing on average around £4,300 each year in financial support, acting as a 'gateway' to Council Tax discounts, help with housing costs and NHS discounts along with free TV Licences for the over-75s. Try the Pension Credit Calculator on for yourself or a family member to make sure you're receiving all the financial support you are entitled to. You can also call the Pension Credit helpline on 0800 99 1234. Help with Council Tax Whether you own your home or rent, you could be eligible for support from your local authority to help you pay your Council Tax. Contact your local council to ask about support with Council Tax. Insulation and heating schemes There are a number of schemes that install insulation and heating improvements to make your home more energy efficient. You're likely to be eligible if your home is poorly insulated or doesn't have a working central heating system, and if you receive any of a range of income-related benefits including Pension Credit. Disability and care benefits A number of benefits are available to people who have disabilities, long-term health conditions or specific care needs. These benefits include: Personal Independence Payment (PIP) - if you're under State Pension age, if you reached State Pension age while claiming PIP this will continue Disability Living Allowance (DLA) - you will need to have been already claiming this before you reached State Pension age Attendance Allowance - if you're over State Pension age and have not claimed DLA or PIP Free passport If you were born on or before September 2, 1929, and are a British national, you could be eligible for a free passport. Find out more and how to apply on the website here. Free / Discounted TV Licence You now have to pay for your TV licence unless you are getting Pension Credit. People over State Pension age may be able to get the TV Licence for half price if they are registered as severely sight-impaired or blind. Benefits for war widows and widowers If your husband, wife or civil partner died or were injured or became ill as a result of their service in Her Majesty's (HM) Armed Forces, or during a time of war before April 6, 2005, you might be entitled to a War Widow's or Widower's Pension. If they died or sustained an injury or illness due to serving in a conflict after April 6, 2005, you might be entitled to compensation through the Armed Forces Compensation Scheme. here. Medical costs for war pensioners If you need medical treatment because you were disabled while serving in the Armed Forces, you could get help towards your medical costs for your accepted disability. War Disablement Pension If you were injured or disabled while serving in the Armed Forces before April 6, 2005, you can get extra help towards your pension. Find out more about War Disablement Pension on the website here .
