DWP boost worth £2,915 being missed by thousands of state pensioners

Thousands of pensioner homeowners are losing out on large sums of money they are entitled to. According to Just Group, many state pensioners are missing out on vital payments during the Cost of Living crisis - an average of £1,807 each year by failing to claim the benefits and perks they are entitled to.

Furthermore, nearly one in 10 pensioners who do make claims receive less than they should, missing out on an additional average of £2,915 annually. Stephen Lowe, group communications director at Just Group, stated: "Despite the focus on benefit as a result of the UK Government's decision to axe Winter Fuel Payments to millions, our survey once again shows the scandalous scale of the under-claiming problem."

He continued: "Of the one-third of pensioner homeowners eligible for benefits, the proportion failing to claim remains very high while the amounts unclaimed are larger than for more than a decade. This is real cash that should be helping low-income pensioners deal with the cost-of-living crisis."

Lowe also highlighted concerns regarding Pension Credit, the primary means-tested benefit for older individuals, citing that only about one in 10 pensioners are eligible, yet 90 per cent of them are missing out.

He explained: "The survey is based on findings from specialist equity release advisers from our sister company HUB Financial Solutions who thoroughly check State Benefit entitlement. This ensures clients receive any income that could remove or reduce the need for them to release any funds from their property," reports Birmingham Live.

He further noted: "Our take-up figures for homeowners are a little lower than the overall rates published by the government, suggesting some people may think owning a home rules them out