Just Retirement claims 18% of pensioners are not getting the benefits they deserve

Research conducted by equity release expert Just Retirement Solutions (JRS) shows that some pensioners are not claiming state benefits to which they are entitled.

Around 18% were not claiming state benefits but were eligible to do so, while 26% of those currently claiming benefits were also entitled to additional benefits.

The research shows that the average amount of additional state benefit to which retirees may be entitled is £675 per year. For those not claiming any benefits the additional amount identified was £788 per year. In a small number of cases, the additional benefits could exceed £2,400.

Just Retirement spokesperson Stephen Lowe said: “Since the beginning of the recession, pensioners have been hit financially by higher taxes, spending cuts and inflationary pressures.

“Despite the fact that the Budget was less severe than expected, financial pressures for people in retirement have not eased. Considering these factors, it is disturbing that pensioners are not taking the state benefits that they are entitled to.

“For the majority of people, obtaining advice from an organisation or a person with an understanding of state benefits is the best way to ensure pensioners are not missing out on these valuable benefits.

“Just Retirement Solutions’ equity release advisers start their advice process by reviewing customers’ state benefits entitlements.”