A third of pensioner homeowners still missing out on Pension Credit

Over a third (36%) of eligible pensioner homeowners are failing to claim Pension Credit, missing out on over a thousand pounds every year on average, according to new analysis of customer data from Just Group.

This week, the Department for Work and Pensions (DWP) is activating its Pension Credit Week of Action to encourage more pensioners to claim Pension Credit – the main benefit targeted at helping low-income pensioners.

However, insight from Just Group shows that only 64% of pensioner homeowners eligible for Guarantee Pension Credit were claiming. The third failing to claim are losing out on an average of £1,153 of extra income every year.

An additional survey of more than 1,000 over 65s from Just Group’s sister company HUB Financial Solutions showed that a third of over 65s (33%) have never checked if they were entitled to extra benefits, with a further 14% unsure or unable to remember when they last checked.

Stephen Lowe, group communications director at Just Group, said: “Pension Credit is a very valuable benefit for retirees and it is good to see the government taking proactive steps to boost awareness and take up.

“As the cost of living pressures like rising food and energy prices are still squeezing pensioner budgets, it is crucial that those most at need are not missing out on the important income boost that Pension Credit can provide plus the additional benefits that are unlocked by claiming it.

“People should not assume that because they own their home, they are no longer eligible for State Benefits. We know that there are many homeowner retirees on low incomes and during Pension Credit Week of Action, we would urge them to check if they could claim additional income."