Money worries are one of the great concerns of ageing. Incomes often shrink even as the cost of living rises, especially for those who have disabilities. This is why the government offers many types of support.
State pension
The state pension is the basic form of support for older people who have retired and is available to anyone who has paid enough national insurance contributions across their working life. The age of eligibility can vary.
Pension credit
If you are of pension age but do not have the income to meet your basic cost of living expenses, you may be eligible to claim pension credit. Pension credit can also make you eligible for the winter fuel allowance, the warm home discount scheme, council tax discounts, a free TV licence if you are over 75, and discounts on Royal Mail redirection for your post after moving house.
Health costs
Some older people will be able to claim support for prescription and other medical costs, including trips to the dentist and optician.
Housing benefit
Help with the cost of rent is available for people who are in sheltered or temporary housing, in addition to those of pension age. Support for mortgage interest is available for homeowners on pension credit. People in sheltered accommodation or care may also receive a discounted TV licence.
Travel costs
An older person’s bus pass offers free travel to those of pension age or older, whilst the senior railcard provides discounted fares for those over 60.
In cases where an older person may not be mentally competent to manage their financial affairs or apply for benefits, the person who holds their UK power of attorney can claim on their behalf. If you would like to know more about power of attorney, companies such as powerofattorneyonline.co.uk/ can help.
Support can come in many forms; however, to claim it, you need to be aware that it exists and how to access it. If you are struggling to cope with the cost of living, you do not have to suffer alone.