Pensioners have been urged to claim all they are entitled to
06 September 2009
People of retirement age could be taking out loans needlessly if new research from Just Retirement Solutions is to be believed.
According to the pensions and equity release group, as many as one in four are completely unaware that they could be entitled to state benefits.
The study indicated that an average of £232 per year is left unclaimed by each pensioner.
Nigel Barlow, head of research at Just Retirement, said: "The lack of awareness surrounding state benefits is a real concern mainly due to the fact that information is not always readily available or easy to follow."
He urged pensioners to make sure they are claiming all that they are entitled to from the government, warning that many are missing out on nearly one month''s state pension extra every month.
"This would not only provide a welcome relief to those less well off but ensure that pensioners receive what is rightfully due to them," Mr Barlow concluded.
Earlier this month, the Money Advice Trust urged people approaching retirement to do everything possible in order to reduce their personal debt levels.
By Gary Huddless
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