MILLIONS of pensioners will want to mark a key date in their diary for when they will receive the Winter Fuel Payment.

For the first time this year, the benefit, which is worth up to £300, will not be universal and only available to people claiming certain support.

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Previously anyone over State Pension age qualified for the payment designed to soften the pinch of energy bills during the colder months.

Most households do not need to apply for The Winter Fuel Payment and will automatically be paid the cash.

If you qualify, you’ll get a letter telling you:

• How much you’ll get
• Which bank account it will be paid into

Payments are £200 for eligible households or £300 for eligible households where someone is aged over 80.

If you do not get a letter or the money has not been paid into your account by January 29, 2025,  contact the Winter Fuel Payment Centre.

The deadline for you to make a claim for winter 2024 to 2025 is 31 March 2025.

By this date, the payments will be processed for those who qualify, with most receiving the money directly in their bank accounts.

For the vast majority of pensioners, the money will land in their bank accounts without the need for action, as long as they have been receiving certain benefits such as Pension Credit, Income Support, or Universal Credit.

If you do not receive your Winter Fuel Payment by the January 29 deadline, it’s important to act promptly.

You will need to contact the Winter Fuel Payment Centre on 0800 731 0160 to make a claim.

Keep in mind, the deadline for submitting a claim for winter 2024-2025 is March 31, 2025.

The payment is now restricted to pensioners who are claiming certain means-tested benefits. This includes:

• Pension Credit (a key qualifier)
• Universal Credit
• Income Support
• Income-related Employment and Support Allowance (ESA)
• Income-based Jobseeker’s Allowance (JSA)

In particular, those claiming Pension Credit should make sure to apply for it, as this benefit is the gateway to receiving the Winter Fuel Payment.

Pension Credit can top up your weekly income to £218.15 if you’re single or £332.95 for couples.

Notably, over 800,000 pensioners are missing out on this benefit, and without it, they won’t qualify for the Winter Fuel Payment.

HOW TO CLAIM

If you think you are eligible, it’s essential to claim Pension Credit as soon as possible.

The latest claims can be backdated for up to three months, with the final date to claim for the 2024-2025 Winter Fuel Payment being December 21, 2024.

If you’re already receiving Pension Credit or another qualifying benefit, the Winter Fuel Payment will be paid to you automatically.

With over 800,000 pensioners potentially missing out on Pension Credit, it’s critical for those eligible to act now.

Not only will this ensure you get the Winter Fuel Payment, but it can unlock additional support throughout the year.

If you don’t get your Winter Fuel Payment by January 29, 2025, don’t delay – contact the Winter Fuel Payment Centre and make your claim before the deadline.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

TENS of thousands of pensioners are set to get tax demands this year for the first time since they retired.

A new freedom of information request by LCP Partners, reveals that nearly 700,000 people received a bill in the post last year, for an average of £665 each. 

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This was an increase of over 120,000 people compared with two years earlier.

One reason given for the rise is the year-on-year freeze in the value of personal allowance, coupled with a steady increase in the value of the state pension.    

The personal allowance threshold, which is the rate at which people start paying tax, has been frozen at £12,570 since April 2021.

The government freezes tax thresholds as a way to raise extra cash without directly increasing taxes.

But as wages or income from pensions rises each year, more people are being dragged into paying tax, or into higher tax brackets.

Steve Webb, partner at pension consultants LCP, told The Sun the “long-term freeze” in the value of the tax-free personal allowance could be financially damaging for pensioners.

He said: “Although an average bill of £665 may not sound very large, it could be the equivalent of about three weeks’ pension and a pensioner whose income is only just above the tax threshold may not have such a sum readily available”.

It is possible that the number of pensioners set to receive tax demands could rise over the coming years.

This is due to the triple lock, which means the payment made to those aged 66 and over rises every April by the highest out of inflation, the average UK wage increase, or 2.5%.

We don’t know yet what the rise will be but the ONS is set to release its inflation figures next week which should give us an indication.

Internal Treasury calculations, previously published by BBC, show that changes would take the state pension to around £12,000 in 2025/26, from £11,501 currently.

This could lead more and more elderly people into paying tax on their pensions.

What to do if you get a letter?

HMRC is sending out letters to thousands of pensioners as part of its “simple assessment” process which assesses who needs to pay what tax.

HMRC previously said that the letters going out will include a detailed calculation of any tax due for income they received between April 2023 and April 2024.

They’ll need to pay what they owe using Simple Assessment.

If you do get one of the letters, don’t stress, as you have until January 2025 to pay the bill.

You can even pay the fee using instalments as long as it’s fully paid by the deadline.

There is an online guide Simple Assessment guide for pensioners with more information for pensioners who receive a demand.

Is there anything I can do to avoid it?

Laura Suter, director of personal finance at AJ Bell, previously told The Sun that pensioners “looking to reduce their tax bill need to think about how they can maximise their tax-free income”.

“For example, any withdrawals made from their ISAs will be free of any tax. so they can use that pot of money to boost their income without impacting their tax bill.”

An ISA is a type of savings account in which you can save up to £20,00 a year tax-free.

Ms Suter also suggested that couples can organise their finances so they ensure they are each making use of their tax-free allowances, which might involve moving money or assets between themselves.

Helen Morrisey, head of retirement analysis at Hargreaves Lansdown, added that pensioners might want to use some of their pension to top up their income.

She said: “Most people can access 25% of their pension as a tax-free lump sum so they may decide to use this to top up their income without pushing up their tax bill.”

However, she also warned that pensioners below the personal allowance are going to find it increasingly difficult to avoid paying income tax in the coming years.

The finance expert added: “A full new state pension hits just over £11,500 per year and even relatively modest 3.5% annual increases would see people pushed over the threshold by the time the threshold freeze ends.”

SIR Keir Starmer has refused to rule out a National Insurance hike for employers despite Labour’s manifesto vowing not to do so.

Tory leader Rishi Sunak grilled the PM three times, demanding to know if he would stand by his pledge.

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But Sir Keir dodged the questions, leaving the door wide open for a tax raid on employers.

Labour’s manifesto stated that “Labour will not increase taxes on working people, which is why we will not increase National Insurance, the basic, higher, or additional rates of income tax, or VAT” .

In their first exchange at Prime Minister’s Questions after party conferences season, Mr Sunak said: “Can he confirm that when he promised not to raise income tax, National Insurance or VAT that commitment applies to both employer and employee national Insurance contributions?”

Sir Keir replied: “As he well knows I am not going to get drawn on decisions that will be set out [at the Budget].

“We made an absolute commitment in relation to not raising tax on working people.

“He of course was the experts’ expert on raising taxes.”

Asked the same question again, Sir Keir would only go so far as to say that he would stick to the promises made in Labour’s manifesto.

The PM also refused to rule out changing fiscal rules to increase Budget spending power.

It comes amid speculation Rachel Reeves could do to potentially unlock up to £57bn in additional spending on infrastructure.

Replying to Mr Sunak, Sir Keir said: “This is literally the man who was in charge – 14 years they crashed the economy. What did they leave? A £22 billion black hole.”

The Tory leader then told the Commons: “He has opened the door to raising employer National Insurance contributions including on pensions and fiddling the figures that he can borrow more.”

Shadow Chancellor Jeremy Hunt also hit out on Twitter: “The Prime Minister has today left the door open to the Labour Party breaking their promises to the British people by raising taxes and increasing borrowing, leaving future generations to pick up the bill and risking higher interest rates.

“Keir Starmer and Rachel Reeves should have had the courage and conviction to be honest about the tax and borrowing plans they always planned.”

A NEW King Charles III coin has tripled in value after being crowned the rarest 50p in circulation, beating the Kew Garden design.

The rare coins market has been shaken up by the newcomer, with collectors scrambling to get their hands on the newly crowned rarity.

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The Sun exclusively revealed this week that the Atlantic Salmon has taken the top spot as the rarest 50p coin in UK circulation.

Previously the title was held by the famous Kew Gardens design, which features the site’s iconic Chinese Pagoda and displays the years 1759 and 2009.

The new coin, which is one of the first released featuring King Charles’ face, features an engraving of salmon fish jumping out of Atlantic ocean water on the other side.

The value of the Salmon coin has since skyrocketed after the Royal Mint revealed to The Sun how few of the them have gone in to circulation.

According to Changechecker, the piece, initially worth around £50, has shot up to £150 in the secondary market, with prices expected to rise further.

A Changechecker spokesperson said: “The circulation 2023 Salmon 50p has knocked the legendary Kew Gardens 50p off the top spot, meaning Britain has a new rarest 50p for the first time in 15 years.

“It was announced on October 7, 2024 that just 200,000 2023 Salmon 50ps entered circulation in November 2023.

“Due to it’s incredibly low mintage, just one in 335 people in the UK could have the chance of finding one in their change.

“When the Kew Gardens 50p was first issued in 2009, collectors didn’t initially realise just how rare it would be, and many people who found one in their change parted with it and later kicked themselves.

“Now, 15 years later, the Kew Gardens coin regularly sells for between £150 to £250 on the secondary market, so it’s no surprise that they’re already selling on the secondary market for up to £200.

“For many, snagging a Salmon coin could be a second chance at coin-collecting glory.

“In terms of identifying rare coins, we would urge collectors to check mintage figures as well as keep up to date with our Scarcity Index which is updated quarterly.”

Eager collectors are rushing to secure one before values spiral even higher.

Coins have already fetched high bids on eBay, with one coin selling for £164 on October 7.

Another listing currently sits at £185, and yet another is asking for a staggering £500 as demand surges – though there’s no guarantee that these will sell for that much.

A coin is only ever worth what someone else is willing to pay at the time.

The Royal Mint confirmed that 200,000 Atlantic Salmon coins were distributed to banks and post offices late last year, as part of a commemorative series marking the ascension of King Charles III.

This figure beats the 210,000 Kew Gardens coins minted 15 years ago, making the Atlantic Salmon officially the rarest 50p in circulation.

Rebecca Morgan, director of commemorative coins at The Royal Mint said: “The releasing of mintage figures is an eagerly anticipated event among the coin collecting community.

“This year is particularly exciting as we reveal the Atlantic Salmon as the rarest 50p in circulation.”

As the Atlantic Salmon swims to the top of the rarest 50p list, the Kew Gardens coin drops to second place, followed by other valuable pieces such as the Olympic Football and Olympic Wrestling coins.

Rare coins, especially those with low mintages, can fetch hundreds, even thousands of pounds.

Error coins, produced with manufacturing mistakes, are also highly sought after by collectors.

Some have been known to sell for as much as £1,500 to £2,500.

How to sell a rare coin

There are three ways you can sell rare coins – on eBay, Facebook, or in an auction.

If you’re selling on Facebook, there are risks attached.

Some sellers have previously been targeted by scammers who say they want to buy a rare note or coin and ask for money up front to pay for a courier to pick it up.

But the courier is never actually sent and you’re left out of pocket.

Rather than doing this, it’s always best to meet a Facebook seller in person when buying or selling a rare note or coin.

Ensure it’s a public meeting spot that’s in a well-lit area and if you can, avoid using payment links.

Next, you can sell at auction, which is generally the safest option.

You can organise this with The Royal Mint’s Collectors Service.

It has a team of experts who can help you authenticate and value your coin.

You can get in touch via email and a member of the valuation team will get back to you.

You will be charged for the service though – the cost varies depending on the size of your collection.

You can also sell rare coins on eBay.

But always bear in mind, you will only make what the buyer is willing to pay at that time.

You can search for the same note or coin as you have to see how much the same one has sold for on the website previously.

This can help give you an indication of how much you should sell it for.

Meanwhile, it’s not just 50ps that could land you a small fortune.

A coin expert has revealed the tiny clue on the edge of a £1 coin could make it worth 2500 times its face value.

Elsewhere, one lucky collector scored a hefty £30,000 on his coin because of an unusual design.

Aviva has completed a £1.5bn bulk purchase annuity full-scheme buy-in with the Michelin Pension and Life Assurance Plan.

The transaction, completed in September 2024, includes an in-specie transfer of assets. It secures the benefits for c15,000 members of the Michelin Pension scheme.

CEO of insurance, wealth, and retirement at Aviva, Doug Brown, said: “This is a significant deal showing the strength of our bulk purchase annuity business in securing good outcomes for pension scheme members.

“We are well positioned to carry out large-scale transactions in addition to our capability in the small and medium scheme market.”

Vincent Dormieux, chair of trustees for Michelin Pension and Life Assurance plan added: “The Trustee is delighted to have improved the long-term security of members’ benefits by completing this buy-in transaction with Aviva.

“I’d like to place on record our sincere thanks to our full advisory team and to the Michelin Group for its support through the process.”

The Michelin Pension and Life Assurance Plan Trustee was advised by XPS Group and legal advice was provided by Pinsent Masons LLP.

Head of risk settlement at XPS Group, Stephen Purves, said: “We’re really pleased to have led on this important transaction and to have helped the Trustee secure its members’ benefits with Aviva.”

Aviva operates in the UK, Ireland and Canada and also has international investments in India and China.

The insurance giant has 19.5 million customers and its total assets under management were £398bn as of 30 June 2024.

MARTIN Lewis’ MoneySavingExpert has revealed the best deals on Amazon Prime Day – and the ones unlikely worth your time.

Amazon massive deal day is running for a second day and offers reductions on thousands of items.

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In his popular weekly newsletter from MoneySavingExpert, Mr Lewis highlighted his top five deals.

At the top of the list is the Shark Corded Upright Vacuum Cleaner, which is tailored for pet hair pick up and has anti-odour technology.

The item is selling today for £189.99 and was previously £264.93 on Amazon Prime – meaning a £74.94 save.

The recommended retail price for the item is also £299.99, meaning a whopping £110 save compared buying directly from the Shark online store.

The next item on the list is the Ninja Speedi 10-in-1 air fryer – a multipurpose item which can air fry, grill, steam, bake, slow-cook, and more.

The product was originally £219.99, but is now selling for £129.99, meaning a £89.01 save.

Argos is currently selling the air fryer for £169, meaning at least a 20% saving compared to buying elsewhere.

Not only this, but due to the multipurpose design of the product, buyers could potentially be saving cash on additional products such as a slow cooker, which are selling on ProCook for £49 alone.

Next up on the best deals list is the Apple Pencil (USB-C), which is selling for £64 instead of £79 – almost a 20% reduction.

Mr Lewis’ MSE team said: “This is the cheapest we’ve seen, and it’s the same price as on the July Prime Day.”

They said the next cheapest elsewhere is John Lewis, Argos and Currys where the pen can be bought for £79 – making today’s deal the best around.

Another impressive deal on the MoneySavingExpert list is the Fitbit Versa 4 which was £164 and is now £126.65.

The smart watch is made for keeping up to track with your physical well being, with a built in GPS, heart-rate monitor, and up to 6 days of battery life.

The same Versa 4 model is selling on Argos for £179, and the Google Store for £179.99, meaning at least a 30% save.

MSE said: “This is is the cheapest ever at Amazon. The previous cheapest price was £69.”

The final item on the list is the Ring Intercom, which can send you alerts via your phone or Alexa when a person visits your home.

You can also use it to unlock your home with voice demands.

It was originally selling for £99.99, but can now be bought for almost 60% less at £39.99.

Mr Lewis said the next cheapest offer can be purchased from ScrewFix, at £44.99.

Are Amazon deals all they’re cracked up to be?

However, his newsletter also warned that some deals aren’t as impressive as they seem, with some having sold cheaper in last year’s Prime Deal Day event.

For example, the Amazon Prime GHD original hair straightener seems like a good deal as is cheaper than elsewhere, selling today for £95.99 compared to £111.20 at John Lewis.

However, last July’s Prime Day it was reduced down to £90.24, making it £5.75 more expensive than it has been previously.

The same goes for the Blink outdoor cameras three-pack, a home surveillance kit, which is selling for £85.99 but was £11 cheaper last year.

The Ring Alarm pack, which comes with the Ring Alarm as well as an additional keypad and motion detection software, has generally stayed the same price at £179, and was £20.01 cheaper in May at £159.99.

While the £18.95 Calvin Klein For Him 150ml Eau de Toilette, which has been reduced from £24, was actually the same price in September.

It is, however, currently the cheapest around, with the next cheapest price being £24 from Lookfantastic.

And finally the Logitech High Performance Wired Gaming Mouse was £24.48 last August is now selling for £26.59 as a Brand Day Deal – making it £2.11 more expensive than it was previously.

This is again the cheapest around, however, with the second lowest option being £27.99 at Currys.

Overall, the MoneySavingExpert analysis shows that while a Prime membership can pay off, a deal isn’t always as impressive as it seems.

MSE also noted the disadvantages for non-Prime members, saying: “We’ve noticed numerous cases of Amazon being very cheeky, by raising the price higher than the RRP [recommended retail price] for those who aren’t Prime members.

“When you click on the “non-deal price” it hides the RRP.

“The RRP of this Lenovo IdeaPad is £219.99, but Amazon has raised the price to £250.35 for those who aren’t Prime members, effectively penalising you.”

What is Amazon Prime Day?

Amazon Prime Day is a 48-hour sale event that is taking place this year on October 8 and 9.

The last event was in July 2023, and this October marks the second ever annual event.

It’s exclusively available for Prime members, offering discounts on everything from the latest technology to sought after beauty items and top toys.

Bargain hunters look to score big savings on thousands of items, but it’s important to make sure that the publicised discount is as good as it seems.

How to compare prices

As usual we recommend readers shop around before taking reduced prices as face value.

Harry Rose, Editor of Which? magazine, said: “Amazon Prime Day may seem like the best time to snap up a good deal if you are a Prime member but don’t feel panicked into buying things you don’t need or haven’t budgeted for.

“When looking to buy something new, always do your research first by checking price comparison sites like PriceRunner and CamelCamelCamel, which not only show current prices at multiple retailers but also reveal a product’s pricing history.

“This allows you to work out whether the sale price genuinely represents good value.”

CamelCamelCamel is one of the key tools Mr Lewis references in the MoneySavingExpert article.

The website is exclusive to Amazon and allows shoppers to enter an item’s URL to reveal its price history, and see if it has previously been sold at a lower price.

You can also set up price alerts to let you know when it drops in price again.

That way you can be first in line for the lowest deals.

Other key ways to compare prices include searching for your specific product on a website and toggling in “Sort By” the cheapest items first.

You can then compare website-to-website which retailers are offering the cheapest products on specific products to help you secure the best deal.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories