Pensioners could get £600 from cost of living payment next week – who is eligible? | Personal Finance | Finance newsbhunt

What is the Winter Fuel Payment?

Older people born before September 26, 1956 can usually get between £250 and £300 to help pay their energy bills.

This is thanks to the Winter Fuel Payment scheme which assists in helping older households tackle rising energy costs.

At the end of the month, the £300 pensioner cost of living payment will be paid at the same time as this sum.

The £300 amount is the second instalment of the wider £900 cost of living payment with the remaining third to be given out sometime next year.

Payments will be automatically deposited into the bank or building society account of the claimant’s choice.

Andy Kerr, the founder and CEO of BOXT, outlined why this extra financial support is very much needed for pensioners in particular.

He explained: “This means that some people could receive up to £600 extra to help with the cost of living this winter.

“However, with a 54 percent increase in energy costs since April 2021 there are concerns that the government has not gone far enough in supporting people this winter.”

The energy-saving expert warned that energy bills are expected to rise once again this winter which will add further pressure to older people.

Mr Kerr added: “With the average energy bill now costing £1,834 per year, even the maximum winter fuel payment of £600 is unlikely to cover the cost of the dramatic increase in bills.

“What’s more, it’s estimated that energy prices will increase again in January putting even more strain on the most vulnerable in our society.”

Pensioners entitled to the Winter Fuel and cost of living payments will be awarded them from October 1, 2023.