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Pensioners miss out on hundreds by failing to claim benefits

Your Money
Written By:
Your Money
Posted:
Updated:
21/02/2013

More than half of pensioners are missing out on hundreds of pounds worth of State benefits a year, according to a recent survey.

Failing to claim these benefits are adding a further squeeze to pensioners’ yearly income says the report from Just Retirement Solutions.

The survey highlighted that 23% were failing to claim any benefit they were entitled to, losing an average of £655 income each year with the highest amount unclaimed £3,631 a year.

In addition, 33% who were claiming some benefit were not receiving their full entitlement, with £213 a year on average lost and the highest amount unclaimed £2,365 a year.

Stephen Lowe from Just Retirement, said: “Many pensioners are struggling to make ends meet due to insufficient pension income and depressed savings returns.

“At the same time they are missing out by failing to claim the benefits they should be receiving, often to the tune of hundreds of pounds each year that could make a real difference to their quality of lives.”

The research also revealed that many pensioners who are not claiming benefits to which they are entitled were living in houses of around the average value, suggesting many of those losing out perhaps believe the fact they own property rules them out of receiving benefits.

Official data also shows owner-occupiers are less likely to claim than those renting, and pensioner couples are less likely to claim than single (male or female) pensioners.