Savers to give tax man £2bn in unclaimed credits

Under the current rules, single people aged 60 or over can claim a guaranteed income of £119.05 a week while people aged over 60 who have a partner can claim £181.70 a week. A claimer’s income must not exceed the allowance to qualify for the benefit. However, according to the research, between 20% and 25% of pensioners do not claim their entitlements. Unbiased.co.uk also says high-rate taxpayers covered for their retirement by a company pension scheme will give up an extra £739m to the tax man this year by failing to make Additional Voluntary Contributions (AVCs). Department for Work a...