Octopus Energy has broadened its support scheme to include those over the State Pension age who aren’t receiving Pension Credit.
This comes after the government’s decision to scrap annual Winter Fuel Payments for approximately 10 million elderly individuals across Great Britain. Despite pleas from the Scottish National Party (SNP), charities, and campaigners nationwide for a reversal of the policy change implemented by Chancellor Rachel Reeves on July 29, Labour is holding firm.
The alteration in eligibility means that millions of pensioners who received payments between £100 and £300 last year won’t be entitled to the money this winter. However, Octopus has pledged to extend its £30 million assistance fund into this winter, making state pensioners who don’t meet the new criteria for Winter Fuel Payments eligible.
In a similar vein, OVO has unveiled a £50m support package aimed at aiding customers struggling with energy bills as the new, higher price cap takes effect. Both funds are now accepting applications, with funding available throughout the year.
Octopus Energy’s ‘Octo Assist’ fund can offer discretionary credits of £50, £100 and £200, and the energy giant is reminding customers that it always charges below the price cap – which has now increased by 10% – saving customers from £150m of energy costs annually.
Octopus Energy Group is ramping up support for struggling pensioners during these challenging financial times. As part of its efforts, it has beefed up the Octo Assist fund, offering a slew of benefits like free electric blankets, heat loss camera loans to pinpoint drafts, bespoke energy-saving advice and incentive ‘savings sessions’ during peak times – a scheme that’s seen over 2m people get involved and yielded £10.5m in savings over two chilly winters, reports the Daily Record.
Greg Jackson, the group’s founder, emphasised the proactive role companies must play: “At times like this, we can’t expect the government to do everything – companies need to work hard on affordability too. That’s why we’ve expanded our Octo Assist fund to introduce extra support for the pensioners who need it most.”
He also highlighted the lack of awareness around available aid, adding: “There’s a lot of government and other support for pensioners but many don’t realise it – government data shows one in three pensioners eligible for pension credits are not claiming, so we’re training our team to help with this too.” In sync with this effort, OVO is extending a significant lifeline to customers battling the cost of living crisis with an Extra Support Package worth £50 million.
Escalated assistance commences over the winter months, and is open all year, when eligible customers can access financial help and energy efficiency products to stay warm. Looking back at the previous year, OVO’s commitment to customer care is evident, supporting over 200,000 individuals through this initiative.
The £50m package includes:
- Payment holidays for all prepayment customers so that every penny put on the meter will go towards heating, not paying back debt this winter. OVO is also keeping emergency credit at the increased amount of £15.
- Free energy saving products including electric throws, mattress toppers and home efficiency kits.
- Energy efficiency upgrades: Customers could receive a wide range of energy-saving measures installed through ECO4 – from loft insulation to a new boiler, or even high-end tech like heat pumps. Eligible customers could get a whole package installed, all for free.
- Financial support including Direct Debit reductions, emergency credit top-ups and extended repayment plans.
- New partnerships and increased financial relief for customers alongside help for organisations including Warm Welcome Campaign and StepChange.
OVO’s support extends beyond the £150 Warm Home Discount, meaning that older individuals who miss out on Winter Fuel Payments may still qualify for assistance. More information about OVO’s support can be found here.
Advisors from both Octopus Energy and OVO can also assist customers in checking for unclaimed benefits such as Pension Credit. Pension Credit is a benefit that provides additional funds to help with living costs for those over State Pension age and on a low income.
It can also grant access to a variety of other benefits. The benefit boosts income to a minimum of £218.15 per week for single pensioners and £332.95 for couples – more if an individual has a disability or caring responsibilities.
An award of just £1 per week is enough to unlock other support, including Winter Fuel Payments. Older people, or their friends and family, can quickly check their eligibility and get an estimate of what they might receive by using the online Pension Credit calculator on GOV.UK.
Alternatively, pensioners can contact the Pension Credit helpline directly to make a claim on 0800 99 1234 – lines are open 8am to 6pm, Monday to Friday. New claims submitted to the DWP by December 21 this year that later turn out to be successful will qualify for a backdated Winter Fuel Payment.
Expert help and advice is also available from:
Below is an overview of the benefit including who should check eligibility, how to go about it and how much you could get.
Other help if you get Pension Credit
If you’re eligible for Pension Credit then you can also receive other forms of assistance, including:
- Housing Benefit if you rent the property you live in.
- Support for Mortgage Interest if you own the property you live in.
- Council Tax discount.
- Free TV licence if you are aged 75 or over.
- Help with NHS dental treatment, glasses and transport costs for hospital appointments.
- Help with your heating costs through the Warm Home Discount Scheme and Winter Fuel Payment.
- A discount on the Royal Mail redirection service if you are moving house.
Mixed aged older couples and Pension Credit
In May 2019, the law changed regarding ‘mixed age couples’, where one partner is of State Pension age and the other isn’t. These couples are now considered ‘working age’ when checking entitlement to means-tested benefits.
This means they can’t claim Pension Credit or pension age Housing Benefit until both partners reach State Pension age. Prior to this change by the DWP, a mixed age couple could claim the more generous State Pension age benefits when just one partner reached State Pension age.
To use the Pension Credit calculator on GOV.UK you’ll need details of your earnings, benefits, pensions, savings and investments. If you have a partner, you’ll need their details too.
You’ll be asked a series of multiple-choice questions, including your date of birth, your residential status and where in the UK you live. Once you’ve answered these, a summary screen will display your responses, allowing you to go back and change any answers before submitting.
The calculator will then show how much benefit you could receive each week. All that’s left to do is follow the link to the application page to find out exactly what you’ll get from the DWP, including access to other financial support.
There’s also an option to print off the answers you provide using the calculator tool, which can help speed up the application process by avoiding the need to re-enter the same details. Give the Pension Credit Calculator a go for yourself or a family member to ensure you’re getting all the financial support you’re entitled to claim.
However, there are some restrictions on who can use the Pension Credit calculator. It’s not suitable if you or your partner are deferring your State Pension, own more than one property, are self-employed or have housing costs (like service charges or Crown Tenant rent) that aren’t covered by mortgage repayments or Housing Benefit.
How to make a claim
You can start your application up to four months before you reach State Pension age. You can claim any time after you reach State Pension age, but your claim can only be backdated for three months. This means you could receive up to three months of Pension Credit in your first payment if you were eligible during that period.
You’ll need your National Insurance number, information about your income, savings and investments and your bank account details if you’re applying by phone or post. If you’re backdating your claim, you’ll need details of your income, savings and investments on the date you want your claim to start.
You can apply online if you’ve already claimed your State Pension and there are no children or young people included in your claim. To verify your eligibility, ring the Pension Credit helpline at 0800 99 1234 or use the GOV. UK Pension Credit calculator here to determine how much you could potentially receive.
