£3billion unclaimed in Pension credit as pensioners unaware they can claim



Pensions

Pensions

Shocking new research has revealed eight in ten are not claiming Pension credits they are entitled to, despite nine out of ten being aware they exist.

Turn2us, a national charity who are part of Elizabeth Finn care released figures which showed people were aware of the potential lifeline payment, but had no idea they were eligible to claim it.

Almost half of pensioners were revealed to be having money worries, and were struggling to make ends meet.

Director of Turn2us, Alison Taylor said, “Our research highlights that, for some older people, claiming welfare benefits could mean the difference between being able to eat, heat their home or cover essential bills. At a time of major changes to the benefit system, it is more critical than ever for people to find out what benefits they can claim, how much they should be receiving and how to apply.”

The results also showed that a quarter of pensioners were struggling to pay their household bills, whilst over half could not afford new clothes and one in ten were missing out on one of their three meals a day to cut costs.

Samir El-Alami of pensioncalculator.org said, “The results are shocking but these figures are only going to get worse the less people take pensions seriously. The state pension does not provide enough money to live off so people need to start saving as early as possible to supplement their income in retirement. With people living longer and longer retirement is going to last longer and having a good nest egg built up to help with the costs is only going to be a good thing.”

Comments & Debate

  1. April 14, 2011 at 9:15 pm Daney Commented:

    This government has not only betrayed existing pensioners with this new pension scheme, it’s about to hit some pensioner couples who are also receiving Pension Credit, if an amendment in the Welfare Reform Bill goes through parliament in it’s present form, see below.

    “Quote”
    Welfare Reform Bill Explanatory Notes:
    Page 22 145. Paragraph 64 amends the State Pension Credit Act 2002 so that a member of a couple who has attained the qualifying age for state pension credit may not receive state pension credit if the other member of the couple has not attained that qualifying age. This is to ensure that all claimants who have not attained the qualifying age for state pension credit are required to claim universal credit and, if appropriate, be subject to work-related conditions of entitlement.

    But if you are single you will still be able to claim when you reach qualifiying age.

    At the moment I receive Pension Credit but it looks as though this will change soon as my wife is ten years younger than myself and with her retirement age going up we will not qualify again until I am 77, this makes for a poverty stricken retirement.
    Thanks a lot Cameron!!!

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