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Seven new money changes coming this October that you need to know about

Financial changes are incoming for the month of October, with a raft of new rule changes set to be introduced.

The Winter Fuel Payment phone lines will be opening from the start of the month, and there are also planned changes to energy bills.

However, some will need to apply, with more than a million pensioners in line to receive the help as the colder months draw in.

Those eligible will be notified via a letter in October or November, detailing the amount they will receive.

But what else is coming in that could affect our bank balances? Here is all we know.

Under the new cap, the average annual energy bill will rise to £1,717 for gas and electricity, an increase of £149 from the current level of £1,568, which has been in place since July. The average price cap for standard credit households is set to rise by £161 to £1,829.

Opening in October, the Warm Home Discount Scheme is a one-off £150 discount on your electricity bill if you get the Guarantee Credit element of Pension Credit or are on a low income with high energy costs.


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