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Just hours left for tens of thousands of households to make key move to unlock winter fuel payment thanks to loophole – The Sun

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Just hours left for tens of thousands of households to make key move to unlock winter fuel payment thanks to loophole – The Sun

A WINTER Fuel Payment loophole means thousands on Universal Credit can claim the £300 bonus – but you only have hours to apply.

The Winter Fuel Payment was previously available to everyone aged at least 66 – the current State Pension age.

The Winter Fuel Payment was previously available to everyone aged at least 66

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The Winter Fuel Payment was previously available to everyone aged at least 66

But this year, the rules have changed. Now, you can only get the cash if you get one of the qualifying means-tested benefits.

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This includes state pensioners claiming Pension Credit, income support, income-based jobseeker’s allowance, income-related employment support allowance, tax credits, or Universal Credit.

To qualify for this year’s Winter Fuel Payment, you must have an active claim for any of these benefits during the “qualifying week”, which runs from September 16 to 22 (this week).

However, claims can be backdated by between one and three months, depending on the benefit you’re applying through – so it’s not too late to claim.

To be eligible for Pension Credit, you and your partner need to have both reached the State Pension age, which has excluded many from applying.

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But, if you have a younger partner, you may be able to make a claim to receive the Winter Fuel Payment through Universal Credit.

Claims for Universal Credit can be backdated by one month.

This means that the absolute deadline to claim the benefit and qualify for this year’s Winter Fuel Payment is today at midnight.

What is the Warm Home Discount?

If you fail to apply for the benefit before the end of the day, you won’t qualify for this year’s cash.

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According to Age UK, you can ask for your Universal Credit to be backdated if:

  • you could not reasonably have claimed earlier because of disability
  • illness – which must be confirmed by medical evidence
  • Department for Work & Pensions (DWP) computer failure
  • where a joint claim ends or is refused, in some circumstances.

Thousands of couples could be missing out on this benefit, which is worth up to £618 a month with the standard allowance before the Winter Fuel Payment is added.

To receive Universal Credit you need to be on a low income or need help with your living costs and have £16,000 or less in savings and investments.

Bear in mind that if your claim for Universal Credit is accepted, then you will need to ask for it to be backdated by a month – it won’t just happen automatically.

Other backdating deadlines

If you think you may be one of the thousands eligible for Pension Credit though, you may be able to backdate a claim in order to get the payment too.

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Pensioners have three months to backdate a claim for the top-up benefit.

This means that the absolute deadline to claim the benefit and qualify for this year’s Winter Fuel Payment is December 21.

Of course, if you fail to apply for the benefit before this date, you won’t qualify for this year’s £300 payment.

The amount you get for the Winter Fuel Payment varies depending on your age.

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If you are aged between 66 and 79, you will get £200, while those aged 80 or over will receive £300.

Whatever your situation, it’s worth checking what benefits you can receive as some 850,000 people who could be claiming Pension Credit and, in turn, the Winter Fuel Payment, have not yet applied.

If you’re not sure if you will be able to get Pension Credit or Universal Credit, you can use our handy tool to check what benefits you’re eligible for.

How to apply for Universal Credit

Applying for Universal Credit should be relatively easy.

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You have to go online and create an account, then there are further steps to take.

Creating an account

Once you’ve created an account you must make a claim within 28 days otherwise you’ll have to start the process again.

If you live with your partner, you’ll both have to create accounts and you’ll join them together when you claim.

If you’re struggling to claim online you can use the Universal Credit helpline which is 0800 328 5644.

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What you’ll need

To apply online you’ll need your bank, building society or credit union account details.

On top of this, you’ll need an email address and access to a phone.

If you don’t have these things, you can call the Universal Credit helpline or go to a job centre.

To find your nearest job centre, you can use its website.

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After you’ve offered your bank details, you will have to provide your driving licence, passport, debit or credit card and payslip of P60.

In addition, you’ll need to prove how much rent you pay, your earnings, any disability or health condition that affects your work, how much you pay for childcare your savings and any investments, such as shares or a property you rent out.

Are you missing out on benefits?

YOU can use a benefits calculator to help check that you are not missing out on money you are entitled to

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Charity Turn2Us’ benefits calculator works out what you could get.

Entitledto’s free calculator determines whether you qualify for various benefits, tax credit and Universal Credit.

MoneySavingExpert.com and charity StepChange both have benefits tools powered by Entitledto’s data.

You can use Policy in Practice’s calculator to determine which benefits you could receive and how much cash you’ll have left over each month after paying for housing costs.

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Your exact entitlement will only be clear when you make a claim, but calculators can indicate what you might be eligible for.

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Fusion appoints Harris as chief investment officer

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Fusion appoints Harris as chief investment officer

Harris will focus on the group’s strategic growth and the living sector, as it looks to expand into European markets such as Spain and Germany.

The post Fusion appoints Harris as chief investment officer appeared first on Property Week.

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Huge DWP disability benefit changes in October Budget to save £3bn – but 1,000s could lose £5,000 a year

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Inflation falls in boost to Reeves as she eyes £40billion in tax rises and spending cuts

THOUSANDS of disabled Brits could lose up to £5,000 a year as Rachel Reeves is set to push through brutal welfare cuts.

The Chancellor is expected to slash £3bn from the welfare bill in the Budget – with £1.3bn of that coming from disability benefits.

The tougher criteria could see 420,000 disabled or ill people lose vital financial support

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The tougher criteria could see 420,000 disabled or ill people lose vital financial supportCredit: Getty
Chancellor Rachel Reeves will deliver her Budget on October 30

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Chancellor Rachel Reeves will deliver her Budget on October 30Credit: Reuters

The changes, first introduced by the Tories, will tighten access to sickness benefits through tough new rules under the Work Capability Assessment.

The Office for Budget Responsibility said the move would save £3bn over four years and the sum is already factored into Treasury spending assumptions.

But the tougher criteria could see 420,000 disabled or ill people lose vital financial support, with experts warning some will face devastating cuts of up to £5,000 annually.

The Resolution Foundation, an independent think tank, has warned that slashing the benefits will leave these people struggling to make ends meet, calling on the Chancellor to rethink the plan.

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But Work and Pensions Secretary Liz Kendall yesterday said the benefits system needs the most far-reaching reform in a generation to get millions back into work.

Her department is preparing to roll out a radical overhaul of welfare, promising a pro-work, pro-opportunity agenda.

There are 2.8 million people off work due to long-term sickess, with the cost of benefits for working age people set to reach £64bn by the end of the Parliament.

This figure will be an increase of £30bn on pre-pandemic levels.

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Before the election, former Work and Pensions Mel Stride unveiled plans to tighten welfare rules to require an extra 400,000 people signed off long-term to go back to work.

They would automatically lose some of their benefits payments, with the hope being that they would eventually enter the workforce, cutting the welfare bill even further.

Ms Reeves has committed to delivering the £3bn in savings, but it will be up Ms Kendall to determine the specific changes needed to achieve that target.

A Government source said: “We have always said that the Work Capability Assessment is not working and needs to be reformed or replaced alongside a proper plan to support disabled people to work.

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“We will deliver savings through our own reforms, including genuine support to help disabled people into work.”

Predictions for the Autumn Statement

The Sun’s Head of Consumer Tara Evans reveals the top predictions for the Autumn Statement:

Winter Fuel Payments

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Chancellor Rachel Reeves has already announced that Winter Fuel Payments will be limited to those receiving pension credit and certain benefits. The benefit is worth up to £300 per year and currently is available to everyone over state pension age and those on certain benefits.

No rises to some taxes

Keir Starmer promised there would be no rises to National Insurance, Income Tax, Corporation Tax or VAT as part of Labour’s manifesto in the election race.

Inheritance Tax

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It has been predicted that the Chancellor Racheal Reeves will make changes to inheritance tax rates or thresholds. One suggestion is the potential shortening of the gift period before death for tax exemptions.

Pensions

Pensions featured very high up in the King’s Speech, was this a hint at how high on the agenda it will feature in the budget? Experts say there are a number of options, including reintroducing the lifetime allowance cap. Ms Reeves has previously campaigned to reduce the tax relief that higher earners get on their pensions and to  introduce a flat rate of 33% instead. Another possible option is changing the rules around pensions and inheritance tax.

Capital Gains Tax (CGT)

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There is speculation that the £3,000 tax-free allowance could be scrapped or there may be an extension of CGT to other assets.

Business Rates

There are rumours of reforms to support small businesses, possibly basing rates on land value.

Fuel Duty

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Possible rise in fuel duty, reversing the freeze since 2011 and impacting household costs. The Sun has backed drivers as part of its Keep It Down campaign since the start of 2011.

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Advisers’ provider selection significantly changed by value and price

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Advisers' provider selection significantly changed by value and price

Advisers’ provider selection significantly changed when considering value and price in line with Consumer Duty Regulations, according to latest data from Protection Guru.

The data, published today (18 October), shows a divergence between traditional market shares and adviser product recommendations when value and price are considered.

It looks at recommended products by those UK-based advisers using the Protection Guru Pro (PGP) service in the first two quarters of 2024 (January-March/April-June).

PGP is the only service that allows advisers in the UK to look at quality and price to assess value across the full suite of protection products, covering life insurance, critical illness, income and business protection.

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By combining these measurements, advisers can filter the vast number and variations of protection products, and only compare the products that meet their clients’ needs.

The data highlights that when quality and price are considered, providers such as Royal London and Guardian attract a considerable share of recommendations.

It also shows that adviser recommendations for Vitality products increased quarter-on-quarter.

The analysis found that across all products, advisers using PGP tend to recommend the fourth or fifth best product that fared 9th or 10th by price alone. This suggests an increasing shift to quality products in the market.

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This demonstrates that when advisers follow the FCA’s Consumer Duty requirements and identify value by assessing quality and price, they are typically balancing both factors to get the optimal client outcome, according to Protection Guru.

Ian McKenna, founder of Protection Guru, said: “By taking price and quality into account across the full range of protection products, we give advisers the tools to do their job in the best possible way, and follow the FCA’s guidance under the Consumer Duty Regulations. The data demonstrates our service is driving real changes in adviser behaviour – leading to better consumer outcomes.”

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The Morning Briefing: Advisers’ provider selection changed by value and financial education to young children.

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The Morning Briefing: Phoenix Group scraps plans to sell protection business; advisers tweak processes

Good morning and welcome to your Morning Briefing for Friday 18 October 2024. To get this in your inbox every morning click here.


Provider selection significantly changed by value and price

Advisers’ provider selection significantly changed when considering value and price in line with Consumer Duty Regulations, according to latest data from Protection Guru.

The data published today (18 Oct.) shows a divergence between traditional market shares and adviser products recommendation when value and price are considered.

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It looks at recommended products by those UK-based advisers using the Protection Guru Pro (PGP) service in the first two quarters of 2024 (January-March/April-June).


Delivering financial education to young children

It has been 10 years since financial education was introduced to the national curriculum for secondary schools in England.

At primary school level, the national curriculum provides a framework for young children to recognise coins and learn how to use money through simple ‘number problems’ in maths lessons.

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The ‘real life’ context comes later, during citizenship or ‘personal, social, health and economic’ education from age 11.

However, some schools do not follow the national curriculum, adding weight to the criticism that financial education is inconsistent in England.



Quote Of The Day

The ECB stopped short of forward guidance, but we expect quarter point cuts every meeting between now and April.

-Mahmood Pradhan, head of global macro economics, Amundi Investment Institute, comments on the ECB interest rate decision.

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Stat Attack

Shepherds Friendly surveyed 2,000 Brits on their attitudes toward investing. Key stats from the survey:

27%

of all those surveyed indicate that the fear of losing money is the biggest barrier. This is followed closely by risk (23%) and the cost of living (17%).

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Around one in 10 

people feel that investing is complex and that they lack understanding of it. Overall,

39%

of Brits don’t currently invest money anywhere.

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61%

of Brits are investing despite the cost-of-living crisis.

52%

of investors expect to see an ROI and 28% say they like to take risks with investing.

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Higher earners favour crypto investments, shares, and stocks, whilst Gen-Zs are investing their highest amount in commodities.

Source: Shepherds Friendly



In Other News

Morningstar today (18 Oct.) published its European Asset Flows data and commentary for September 2024. The data revealed that EUR 36.5 bn of net inflows were drawn by Europe-domiciled long-term funds in September, and EUR 121 bn in the third quarter.

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Valerio Baselli, senior international editor, Morningstar, said: “Asset classes recovered swiftly from the volatility seen at the start of August. Investors continued to show positive sentiment, arguably driven by the decisions of the US Federal Reserve and the European Central Bank to cut interest rates and poured EUR 36.5 bn into long-term Europe-domiciled funds in September.

“Between July and September, global equities surged to all-time highs despite pronounced volatility on several occasions. Emerging markets performed strongly, supported by the announcement of new stimulus measures in China. In the quarter, equity funds took in EUR 41.7 bn (EUR 11.8 in September). This was a one-sided story: September marked the 18th month of net outflows of the past 19 for active equity strategies.”


UK businesses remain wary of Labour after charm offensive (Bloomberg)

Amazon AWS CEO: Quit if you don’t want to return to office (Reuters)

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Companies House to stop fraudsters joining up under fake names like ‘Darth Vader’ (The Guardian)


Did You See?

Pensions providers and industry experts are having their final say on the FCA’s value for money framework proposals ahead of the consultation closing date (17 October).

In August, the FCA laid out plans to provide millions of pensions savers with better value for money.

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Under the proposals, defined contribution (DC) pension schemes will be required to publicly disclose how they are doing across the three key metrics.

These are investment performance, quality of service and cost.

Each will be assessed against a red, amber and green ‘traffic light system’ to determine which – if any – need attention.

Poorly performing schemes will be required to provide an action plan of how they will improve or if they don’t, “protect” savers by transferring them to better schemes.

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Daniel Cooper has the full story.

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Yorkshire Tea confirms popular breakfast tea will be axed as shoppers complain of national shortage

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Yorkshire Tea confirms popular breakfast tea will be axed as shoppers complain of national shortage

YORKSHIRE Tea has discontinued its popular “Toast and Jam” teabags – leading sweet-toothed fans to plead for them back.

The flavour was launched in 2020 as “a strong breakfast blend with all of the loveliness of jam on toast without the crumbs.”

Yorkshire Tea has axed one of its popular tea flavours

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Yorkshire Tea has axed one of its popular tea flavours

But after years at the breakfast table, the comforting brew is gradually being phased out in shops, leaving customers desperately scrambling for the final boxes.

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One said on social media site X.com: “Please tell me that you are still doing Jam on Toast teabags? I can’t get them in the supermarket!!!!! And need them badly.”

Another added: “Is your toast and jam tea still a thing? Tried 3 different supermarkets in North Devon and it isn’t anywhere. Send help, or jammy tea! The search continues!””

A third said: “Have you stop making jam and toast… I need my morning fix! Help this is a genuine emergency! Asda and Sainsbury’s online stopped stocking it! Helllllppppp.”

Meanwhile, Dr Rachael Door joked: “There appears to be a national shortage of @YorkshireTea Jam and Toast and I’m nearly at breaking point.”

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It’s understood that the blend is now being replaced by the brand’s new “Caramelised Biscuit Brew” – which is designed to stop you from craving biscuits with tea.

The new flavour is available to buy from Ocado and Sainsbury’s for £2.30.

Yorkshire Tea periodically introduces new flavours to keep its range fresh and innovative, with “Malty Biscuit Brew” being another sweet flavour in the range.

Tom Church, co-founder of LatestDeals.co.uk, said: “By making space for the new Caramelised Biscuit Brew, Yorkshire Tea is showing that being inventive is just as important in the tea aisle as it is for chocolate or sweets.

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“Innovation is marketing, as they say. I think they will have found most people probably try these different flavours once or twice for novelty.

“There will be some die-hard fans who keep drinking, but the majority probably tail off.

Which chocolate bars have been discontinued in the UK?

“Adventurous tea flavours gives Yorkshire Tea and chance to stand out, not just on the aisle but in the important social media space too.

“Biscoff biscuit recipes have been trending on TikTok and Instagram for years, and a tea bag that tastes as if you’ve dunked a Biscoff in it? Well, yes please.”

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Yorkshire Tea has not commented on the disappearance of Toast and Jam teabags to Sun Money.

But this week it responded to one desperate fan saying: “We’re afraid it’s being discontinued but it’s still available in Tesco, Amazon and Ocado for a little while.”

The Sun had a look at various different retailers and can confirm it is available to buy from Ocado, while stocks last, for £2.30.

Tesco is also still selling the product for £2.

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Meanwhile, Amazon is still advertising a multipack of four boxes for £19.98.

It does not appear to be available to buy from Sainsbury’s, Morrisons or Asda.

It’s not the only disappointment for fans of sweet treats.

Earlier this month we revealed how fans of Smarties Buttons were distraught after the loved snack was axed.

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Meanwhile, M&S fans have had a series of disappointments recently after the brand decided to axe Connie the Caterpillar sweets and Percy Pig Phizzy Pig Chews.

Why are products axed or recipes changed?

ANALYSIS by chief consumer reporter James Flanders.

Food and drinks makers have been known to tweak their recipes or axe items altogether.

They often say that this is down to the changing tastes of customers.

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There are several reasons why this could be done.

For example, government regulation, like the “sugar tax,” forces firms to change their recipes.

Some manufacturers might choose to tweak ingredients to cut costs.

They may opt for a cheaper alternative, especially when costs are rising to keep prices stable.

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For example, Tango Cherry disappeared from shelves in 2018.

It has recently returned after six years away but as a sugar-free version.

Fanta removed sweetener from its sugar-free alternative earlier this year.

Suntory tweaked the flavour of its flagship Lucozade Original and Orange energy drinks.

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While the amount of sugar in every bottle remains unchanged, the supplier swapped out the sweetener aspartame for sucralose.

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