Thousands of households in Cardiff are potentially missing out on a significant payment of £2,600 each year, Wales Online reports. Pension credit, available to eligible individuals of state pension age, can provide valuable financial support regardless of other income or savings. Despite this, more than £12.3 million worth of pension credit remains unclaimed in Cardiff, with an estimated 4,300 missed claims in the city.
The council’s money advice team is urging residents to check if they qualify for pension credit, as well as ensuring they are not missing out on any other benefits or discounts that could boost their income. Claiming pension credit not only offers additional income but also unlocks various forms of support, potentially equating to around £10,000 per year per person. This includes assistance with heating bills, housing costs, council tax, and TV licence fees.
Councillor Peter Bradbury, the Cabinet member for tackling poverty and supporting young people in Cardiff, emphasized the importance of claiming pension credit. He highlighted that the unclaimed £12 million could significantly benefit older individuals in the city. Changes to the winter fuel payment scheme also require eligibility for pension credit to access the £300 payment. Therefore, it is crucial for eligible individuals to make a claim before December 21, 2024.
Residents can seek assistance from the money advice team, available at the central library Hub and various community hubs across the city throughout the week. The team aims to help residents determine their eligibility for pension credit and ensure they receive all entitled benefits. By taking advantage of these schemes, Cardiff residents can improve their financial stability and access vital support.