Pensioners could get help covering urgent expenses – up to £460 of support available

State pension: Expert discusses when payments are made

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If unexpected costs arise, it can be difficult for people on a tight budget to find the financial flexibility to pay for them. Fortunately, help may be available for pensioners facing urgent costs.

It may be possible to get an advance payment of various benefits to help with urgent costs called a Budgeting Loan.

Alternatively, people who are waiting for a decision on their benefit claim may be able to get a short-term advance.

Budgeting Loans

Budgeting Loans can help to pay for essential items such as furniture, clothing and removal costs.

The minimum loan that can be received is £100. The maximum amount someone can borrow depends on their circumstances.

The maximum amount available is as follows:

  • £348 for single people
  • £464 for people in a couple
  • £812 for those with children

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People who are receiving Pension Credit (or have a partner who is) can claim a Budgeting Loan, meaning pensioners on low incomes may be able to receive support.

It is also available to anyone receiving the following benefits:

  • Income Support
  • Income-based Jobseeker’s Allowance
  • Income-based Employment and Support Allowance)

The loan must be repaid within 104 weeks.

It is usually repaid by deducting amounts from the loanee’s normal benefit payments.

A claim form can be downloaded from the gov.uk website.

Short term advances

These are available to people who are waiting for a decision on their benefit claim.

A short term advance could provide an interim payment to bridge the gap while someone is waiting for their first benefit payment.

People who have recently applied for the state pension or Pension Credit can apply.

Someone waiting for any of the following benefits may also apply for a short term advance:

  • Jobseeker’s Allowance
  • Income Support
  • Employment and Support Allowance
  • Carer’s Allowance

The advance will be repaid by deducting amounts from the claimant’s normal benefit payments once they start receiving them.

Anyone wanting to get a short term advance should contact the organisation responsible for whichever benefit they have applied for.

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