Pension-claiming homeowners twice as likely to miss out on key income boost as renters

manchestereveningnews.co.uk:

Research by advisory firm HUB Financial Solutions has revealed that amidst the cost of living crisis and high borrowing rates, many pensioner households could be missing out on thousands of pounds in much-needed income which they are entitled to receive.

A survey of over 1,000 individuals aged 65 and above found that 38 per cent of homeowners had never checked if they were eligible for additional benefits, a figure more than double that of renters (15%).

Despite government campaigns and extra cost of living payments aimed at increasing benefit uptake, only one in five (20%) homeowners reported having checked their eligibility for benefits in the past year, compared to over four in ten (41%) renters.

It is estimated that around 10 million pensioner households risk missing out on annual Winter Fuel Payments of up to £300 unless they receive an income-related benefit such as Pension Credit.