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Pensioners could receive up to £600 from today

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From today, the government is providing pensioners with £300 per household. This comes in addition to Winter Fuel Payments. Here at MoneyMagpie, we always want to bring you the latest financial news as soon as we can. Continue reading for more information about this payment. 

Over 11.6 million pensioners will begin receiving up to £600 from today. This payment is to help with energy bills this winter, as fuel costs continue to rise rapidly.  

The support will cost the government over £4.5 billion, and is part of a package helping people across the UK with the cost of heating their homes. This total also includes the £400 Energy Bills Support Scheme, in which all households receive £400, split over six months. The £4.5 billion also includes the Energy Price Guarantee, keeping the price cap lower to help save households around £900. 

Winter Fuel Payments are boosted this year by an additional £300 per household, as part of the Pensioner Cost of Living Payment. This will be put into bank accounts over the coming two months, starting today (23rd November 2022). The vast majority of pensioners will receive this automatically. 

The money will appear on bank statements with a payment reference that starts with your national insurance number follower by ‘DWP WFP’ for those in Great Britain. For those in Northern Ireland, the reference will end with ‘DFC WFP’. 

Work and Pensions Secretary Mel Stride said:

“We want to do everything we can to support pensioners who are often the most exposed to higher costs. That’s why we’re providing all pensioner households with an additional £300 on top of their Winter Fuel Payments to heat their homes and stay warm this winter. 

“This extra payment is just one part of the wider support package we’re delivering to help with rising bills, including the biggest State Pension increase in history. 

“Our support doesn’t stop here. As we deal with the impact of Putin’s illegal war in Ukraine and the aftermath of the pandemic, we will continue to stand by the most vulnerable, with further cost of living payments coming next year.” 

The post Pensioners could receive up to £600 from today appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/pensioners-could-receive-up-to-600-from-today

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