State pensioners across the UK are set to lose £749 from October 1 due to a range of money changes coming into effect.
This winter, more than 10 million state pensioners will lose their Winter Fuel Payment eligibility.
Previously, the payment of between £200 and £300 was paid automatically to all state pensioners.
But thanks to changes made by the government, this year pensioners will not receive the money automatically and instead will only get the money if they’re in receipt of a ‘qualifying benefit’, such as Pension Credit.
Generally speaking, if your income per week is less than £218, or £335 for a couple – for example because you’re on the old pre-2016 basic state pension of £169.50 per week, you will qualify for Pension Credit.
But if you’re already in receipt of the full state pension you will lose your Winter Fuel Payment this winter.
The Winter Fuel Payment hotline opens on October 4 and those who think they are due the cash will be able to call up from this date to check.
State pensioners will also lose another £300 this winter compared to last winter because of the Cost of Living payment.
This £300 payment was automatically paid to all state pensioners in each of the past two winters to help people cope with the abnormally high energy costs, but this year is the first year that it will not be sent out.
This was always planned to end for 2024 but the government has not chosen to renew the scheme.
Finally, energy bills will increase by 10 percent from October 1, an average of £149 for a household on typical use, taking bills from £1,568 to £1,717.
While energy bills will still be slightly lower than they were last winter, this is still an unwelcome increase at a time when other benefits have been cut or narrowed in eligibility.
Currently a Triple Lock state pension increase is forecast to boost pensioner incomes by £460, but this won’t take be confirmed until the end of October and won’t take effect until April 2025.
