A study by Royal London found that the majority (93%) of pensioners use various benefit, offer and discount schemes available to them at retirement. But more than a fifth (21%) aren’t aware they would be entitled to any other benefits if they qualified for Pension Credit.
Available discounts
These are the top six benefits Royal London found that pensioners didn’t realise they would be entitled to if they qualify for Pension Credit:
- A discount on the Royal Mail redirection service if they moved house (93% unaware)
- Help with rent costs through housing benefit (57% unaware)
- Help with NHS dental treatment, glasses and transport (47% unaware)
- Help with council tax through the council tax discount (43% unaware)
- A free TV Licence if aged 75 or older (41% unaware)
- Help with energy bills through the Winter Fuel Payment (32% unaware)
How to claim Pension Credit
Researchers found that two-fifths (40%) of pensioners haven’t yet checked if they qualify for Pension Credit this year. It said this could be partly due to the social stigma associated with benefits, as 44% are conscious that claiming them can be viewed negatively.
As part of its Take The Credit campaign, Royal London is partnering with social enterprise Pocket Power to offer pensioners a free phone call offering a bill switching service, helping them save on their household bills and wider costs and to support with Pension Credit applications. Royal London said that, on average, a Pocket Power call saves each person £250.
Sarah Pennells, consumer finance specialist at Royal London, said: “There is still a significant gap in awareness around Pension Credit and the other benefits that claiming it entitles people to. This is the case despite all the media coverage of the Government’s decision to limit the Winter Fuel Payment to pensioners on Pension Credit.
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“Approximately three-quarters of a million pensioners are missing out on vital financial support, but also potential access to help with rental costs, NHS prescriptions and a reduction in their council tax.
“Our research shows there is still a sense of embarrassment associated with applying for benefits, when there should be absolutely no shame in accepting help. We want to empower pensioners to claim the financial help they are entitled to. The easiest way to check if you qualify for Pension Credit is to use one of the free online calculators, and, once you know that you can claim, you can apply via the website, post or phone.”
