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.”