Pensioners told not to let benefits go begging - Pensions - News - Moneyfacts


Pensioners told not to let benefits go begging

Pensioners told not to let benefits go begging

Category: Pensions

Updated: 26/04/2011
First Published: 26/04/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Pensioners are missing out on hundreds of pounds a year by not claiming the benefits that they are entitled to.

Around one in five pensioners who have never claimed state benefits are eligible to do so, according to Just Retirement.

Meanwhile, a quarter of those who are currently making some kind of claim could actually be entitled to even more benefits than they are getting.

On average it is estimated £675 a year in additional state benefits is not being claimed by pensioners.

However, in a small number of cases, it is believed the additional benefits could exceed £2,400.

Discounts on council tax and unclaimed pension credits are amongst the benefits that often go begging.

Stephen Lowe, a director at the retirement solutions firm, said that since the beginning of the recession, pensioners have been hit financially by higher taxes, spending cuts and inflationary pressures.

"Despite the fact that the Budget was less severe than expected, financial pressures for people in retirement have not eased," he added.

"Considering these factors, it is disturbing that pensioners are not taking the state benefits that they are entitled to."

If you are a pensioner, it is possible that you are one of the people who are missing out on valuable retirement income.

Contacting the Citizens Advice Bureau or visiting the website could help make your retirement a little bit more financially comfortable.

Find the best pension for you -Compare pensions.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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