Money Saving Expert (MSE.com) highlights a new report suggesting nearly £23 billion in unclaimed benefits and social tariffs annually. Millions of people may be missing out on crucial financial support through benefits like Universal Credit, Attendance Allowance, Pension Credit, Carer’s Allowance, and Council Tax savings. MSE urges everyone to take 10 minutes and use an online benefits calculator to ensure they are maximizing their income.
Money Saving Expert ( MSE .com) is urging millions of people to conduct a brief 10-minute check to ensure they aren't missing out on additional financial assistance through benefits or Council Tax discounts. According to a recent analysis by the think-tank Policy in Practice, the aggregate amount of unclaimed income-related benefits and social tariffs reaches nearly £23 billion annually.
Policy in Practice states that its mission is to 'maximise the income for low income households, making access to the welfare system simpler, fairer, and more efficient'. MSE.com has meticulously reviewed the key findings of the report and discovered that 1.4 million individuals could be overlooking Universal Credit, 1.1 million pensioners might be eligible for Attendance Allowance, and an additional 760,000 individuals could qualify for Pension Credit. MSE.com also highlights that approximately 530,000 people could be due Carer's Allowance, and a staggering 2.25 million households across Great Britain might be missing out on Council Tax savings of up to £850 each year.If you are employed but on a low income, living with a long-term health condition or disability, raising a family, or recently bereaved, you could be entitled to additional financial support. MSE.com strongly advises everyone to take 10 minutes and utilize an online benefits calculator to confirm they are maximizing their income. The team of experts also emphasized how a successful claim for one benefit can act as a gateway to other financial support, including discounts and social tariffs - discover more information here.The Scottish Government's Cost of Living Support Scotland website also offers a 'one-stop shop' to assist households and individuals in quickly verifying the availability of additional financial support - find out more here. Financial assistance for Scots is widely available, and you should check if: You are on a low income You are unemployed or working part-time You have a disability You are raising a family You are a carerWhat constitutes an online benefits calculator? Online benefits calculators efficiently determine if you are overlooking any benefits, and best of all, they are completely free, independent, and confidential to use - leaving nothing to lose. In just a few minutes, you could uncover how much you might be eligible to claim in extra support by simply inputting details about yourself, your residency status, your employment status, and any savings you possess. You can utilize an independent benefits calculator to ascertain: Potential income-related benefits Council Tax Reduction Carer's Allowance Universal Credit How your benefits will be affected if you start work or alter your working hours.Before embarking on this process, gather the following information, and the entire procedure should take approximately 10 minutes: Personal details Income and expenditure Employment status Savings Details regarding any health conditions or disabilities You can access the latest Record Money news by following these links: Join the conversation on our Money Saving Scotland Facebook group for money-saving tips, the latest benefits news, winter energy bill advice, and cost of living updates.Sign up for our Record Money newsletter and receive the top stories delivered to your inbox daily from Monday to Friday, with a special cost of living edition every Thursday - sign up here. You can also follow us on X (formerly Twitter) @Recordmoney_ for regular updates throughout the day or stay informed with money news alerts on your phone by joining our Daily Record Money WhatsApp community.
Benefits Unclaimed Benefits Financial Support Council Tax Money Saving MSE Policy In Practice Universal Credit Attendance Allowance Pension Credit Carer's Allowance
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