Home Finance MoneySavingExpert says Brits are missing out on £23bn including £3,900 for pensioners

MoneySavingExpert says Brits are missing out on £23bn including £3,900 for pensioners


Brits could be missing out on cash from a huge pot of £23billion, financial experts have warned.

Website MoneySavingExpert, founded by renowned money expert Martin Lewis, reports that billions of pounds in benefits still go unclaimed every year.

This includes those who work but are still entitled to benefits from the Government, and pensioners who could still be missing out on pensions credit.

Below is a list of the benefits that you could be missing out on despite being eligible.

Universal Credit

Universal Credit helps those who are working age who are either receiving a low income or nothing at all with their living costs. A huge 1.4million people miss out each year despite qualifying for the support.

This means the average person who has not claimed is missing out on £5,800 a year.

Households with a combined income of less than £35,000 a year, those with high childcare costs, and those struggling with high rent could all be eligible.

Attendance Allowance

Around 1.1million people have not claimed, and are therefore missing out on £3,778 a year at least.

This benefit is not means-tested and offers fixed payouts of £3,778 or £5,644 a year.

It is there to help those who have needed help over six months with daily living, including with washing, eating, or just requiring supervision.

Council Tax Support

About 2.25million people are eligible for the support but have not claimed it. The average person is missing out on £1.500 a year.

What you receive depends on where you live because councils have their own schemes.

The support could reduce your council tax bill by as much as 100%.

If you are a recipient of Universal Credit or Pension Credit you may qualify, but you have to apply.

Carer’s Allowance

MoneySavingExpert says that 530,000 carers could be missing out on as much as £4,250 a year.

The support is offered to those who are unpaid carers for loved ones or someone they are not related to.

To qualify, you must be caring for someone who receives Attendance Allowance. You ay also be eligible if you car for someone on Personal Independence Payment or Disability Living Allowance; spend 35+ hours a week helping with everyday tasks such as washing or cooking.

You may also qualify if you earn under £151 a week or have a low State Pension.

Pensions Credit

Every year, 760,000 pensioners don’t claim on benefits they are entitled to, costing them an average of £3,900 a year.

Even if you only quality for a small amount of Pensions Credit, applying for it will help you receive other benefits such as the winter fuel allowance, Council Tax reduction, and a free TV licence.

If you receive a State Pension and have a weekly income of less than £235, or less than £350 as a couple, it is worth checking if you qualify,

Housing benefit

Housing benefit goes unclaimed by 294,000 pensioners every year. This means the average person is missing out on £4,400 a year.

Those under 66 who are eligible can claim through Universal Credit. Renters are the main group who could be missing out on support.

Free School Meals

Worth £490 a year, around 470,000 families don’t claim despite being entitled.

Many new Universal Credit claimants don’t claim them despite being eligible.

LEAVE A REPLY

Please enter your comment!
Please enter your name here