Older homeowners urged to check for benefits to help boost income before winter
dailyrecord.co.ukWith the impact of the cost of living crisis still squeezing finances and borrowing rates remaining high at 5.0 per cent, many pensioner households could be missing out on thousands of pounds in much-needed income which they are entitled to receive, research by advisory firm HUB Financial Solutions reveals.
The survey of more than 1,000 over-65s found that 38 per cent of homeowners had never checked if they were entitled to extra benefits, more than double the proportion of those renting (15%).
Despite government efforts to boost benefit take-up via campaigns and extra cost of living payments, only one-in-five (20%) homeowners said that they had checked their eligibility for benefits in the last year, compared to over four-in-10 (41%) renters.
An estimated 10 million pensioner households are se to miss out on annual Winter Fuel Payments of up to £300, unless they are in receipt of an income-related benefit such as Pension Credit, which means that it is even more important than ever that everyone over the age of 66 makes sure they are claiming all the additional financial support they are entitled to.
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