Pensioners missing out on thousands in unclaimed benefits

Many pensioners could be struggling unnecessarily because they’re not claiming benefits they’re entitled to.

New research from Just Group suggests that 74% of pensioners who own their own home and are eligible for state benefits aren’t claiming anything at all.

As a result, they’re missing out on an average of £1,339 in extra income every year.

Others, meanwhile, are only claiming some of what they’re entitled to.

Figures show that a further 14% of pensioners who currently receive benefits aren’t getting their full entitlement, and are losing out on an extra £1,162 a year.

What benefits could pensioners claim?

Among the benefits that pensioners are missing out on are:

• guarantee pension credit
• savings pension credit
• council tax reductions
• universal credit

Just Group describes guarantee pension credit as “the main benefit targeted at helping low -income pensioners”.

But figures show it’s being claimed by just a third of eligible pensioner homeowners.

And of those failing to claim any government support, nearly two-thirds 62%) are missing out on one key benefit, and more than one in ten (12%) are missing out on two.

Pensioners must check what they can claim

David Cooper, director at retirement specialist Just Group, said the report raises “serious questions” about what support and guidance is available.

“Benefits like pension credit are not paid automatically but must be claimed,” he commented.

“So people need the foresight to check if they are entitled to it. 

“It’s important cash-strapped pensioner households do not simply assume there is no state help available.

“A five-minute check could unlock thousands of pounds of income each year.” 

Don’t miss out 

If you’re not sure if you qualify for pension credit and other state benefits, we can help.

You can either give us a ring and we’ll check for you, or use our free benefits calculator to see what support you could get.