Pensioner Loans

As seniors move into their retirement years, some may find that they do not have enough in their savings or pension fund to meet all of their financial needs. Due to this fact, the government and non-profit organisation have created different programs and grants to help cover some of these expenses.

* Popular Loan types – See loan and benefit options for specific circumstances here.

Below is a look at some of these expenses and how seniors can find help beyond pensioner loans. If you are in need of cash, have a look at our loans for people on benefits section.

Pension Credits – Take advantage of the different pension credits that are available. Get a weekly credit boost to your income of £155.60 for singles and £237.55 for couples.

Household Needs
There are several programs available to seniors to help them with their rent and home utility bills. Most of these grants are offered to low-income seniors, and can help reduce or eliminate certain household bills.

Local Housing Allowance – This grant is for low-income families and helps by reducing the amount of rent a person owes each month. The specific amount of assistance received is based on income and the size of the home rented.

Winter Fuel – The Winter Fuel grant is specifically for seniors who were born on or before 5 Jan 1952. It offers a one-time payment to help offset the cost of their fuel bill. This payment is usually between £100 and £300 per year.

Cold Weather – This is a unique grant that pays homeowners a lump sum of £25 anytime the temperature in their area goes below zero degree for seven straight days. The grant provides one payment for every seven-day time frame.

Winter Front – Winter Front actually help low-income seniors make changes to their home that will work to reduce their overall heating bill. This may include installation of energy-saving windows or repairs done to the heating system.

Free TV – Seniors that are 75-years old or older are also entitled to free TV licences. This can be acquired through the local TV licencing distributor and certain restrictions may apply.

There are times when a senior’s needs cannot wait for a grant to be processed or require assistance that is not available with any other type of grant.

AFTAID (Aid for the Aged in Distress) – This program is set up to help seniors who are in an emergency situation and need help immediately. It also provides help with things that other grants do not cover, such as bedding, clothing, appliances, electric scooter or a home phone service.

Mobility and Independence
There are several non-profit organisations that offer help seniors maintain their independence. These organisation help to provide seniors with the necessary home repairs and equipment that will allow them to remain in their homes.

Friends of the Elderly – This program provides one-off grants to help seniors purchase items that allow them to maintain their independence in their home. It pays for necessary home repairs that need to be made or for mobility aides.

NBFA (National Benevolent Fund for the Aging) – This program is designed to prevent seniors from becoming isolated in their home. It provides free outings and one-day trips for seniors to participate in, and also provides free phone alarm system and a free TENS (transcutaneous electrical nerve stimulator) machines for the elderly.

Independent Age – This is another program designed to help keep senior remain in their home for as long as possible. They provide free mobility devices and offer free home repairs, such a repairs to the roof or heating system.

These programs are all created to help seniors during their retirement years. The goal of all of these programs is to ensure seniors are living a in a healthy and safe environment. If the seniors gets to a point where they are no longer able to care for themselves in their home, there are various assisted living facility options. The government will also help people cover the cost of elder care if they cannot afford to do so on their own.