Millions of pensioners to get extra £300 winter fuel discount

MILLIONS of pensioners on low incomes are set to get extra cash to help in the cost of living crisis.

Chancellor Rishi Sunak today announced they will get a one-off payment of £300.

The help is part of a package of plans unveiled by the government today that will help millions of households.

Chancellor Rishi Sunak promised to tackle the cost of living crisis.

He said: "We know that people are facing challenges with the cost of living and that is why today I’m stepping in with further support to help with rising energy bills."

A £2.5billion pot of cash will go to older households to help them heat their homes this winter.

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That will come via the £300 "Pensioner Cost of Living Payment" will be paid in November or December.

That's on top of the existing Winter Fuel Payment worth between £100 and £300 that those over state pension age get already.

The fresh measures come as millions of people have struggled to cope with rising bills.

It also includes:

  • Windfall tax on gas and oil firms
  • £650 one-off payment for Universal Credit and benefits
  • £300 one-off payment to pensioners
  • £150 extra one-off disability payment
  • £400 energy discount for EVERY household
  • An extra £500million for the Household Support Fund

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Pensioners are also set to benefit from the other help announced today.

Mr Sunak said that pensioners will get on average £800, but this could be more or less depending on your circumstances.

Those on the lowest incomes who get Pension Credit will be eligible for the £650 one-off payment for those on benefits.

Along with the £300 payment, that would add up to £950.

And those with disabilities are being given £150 one-off payment too.

That means the most vulnerable could get as much £1,100 in older age.

The cost of living support package will help around 8million households.

The help, which will in part be funded by a windfall tax on energy companies, comes after inflation has hit 9% and that could rise further in the months to come.

Energy bills could go up by another £800 in October when the price cap rises again, Ofgem has warned.

The energy price cap limiting how much suppliers can charge for standard tariffs shot up by 54% in April pushing up bills for millions of people.

Around 22million households are currently on price capped tariffs as fixed deals are now far higher following a steep increase in wholesale energy costs since last year.

The price cap increase pushed the typical duel fuel bill from £1,277 to £1,971, though exactly how much you pay depends on usage.

Wholesale energy costs are going up due to global supply issues and the war in Ukraine.

While the price cap prevents these increase being passed on to consumers immediately, the price cap is based on the wholesale costs when it's reviewed creating a "shock" rise twice a year when they go up.

Ofgem is considering more regular reviews of the cap to spread out rises, and pass on any falls earlier.

Meanwhile other costs have gone up ranging from food to fuel, piling pressure on people's finances.

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