Pensioner homeowners more than twice as likely than renters never to have checked State Benefit eligibility.
With the impact of the cost of living crisis still squeezing finances and borrowing rates remaining high, many pensioner households could be missing out on thousands of pounds in much-needed income which they are entitled to receive, research by advisory firm HUB Financial Solutions reveals.
Matt Halksworth, head of customer solutions and advisory leader at HUB Financial Solutions, said: “While inflation may be coming down, many pensioners will still have seen their budgets squeezed over the past few years. And the recent announcement by the Chancellor to limit Winter Fuel Payments to those on Pension Credit or other means-tested benefits underlines how important it is for people to check their eligibility.
An estimated £19 billion state support from the Department for Work and Pensions went unclaimed over the last year. Most benefits need to be claimed from the DWP or Social Security Scotland and while the end-to-end application journey time can take up to 16 weeks for disability payments, others have a much quicker turnaround - a new claim for Pension Credit is typically processed within 50 working days.
In just a few minutes you could find out how much you may be able to claim in extra support, just by entering details about yourself, your residential status, your working status and any savings you have.Get the latest Record Money news Join the conversation on our Money Saving Scotland Facebook group for money-saving tips, the latest benefits news, energy updates and the ongoing cost of living crisis.
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