One quarter of pensioners are missing out on benefits, which could boost their income by an average of £232.
Research from equity release adviser Just Retirement Solutions (JRS) reveals
one in four pensioners admitted to not knowing about state benefit entitlements, with an average of £232 in state benefits going unclaimed each year.
A quarter of customers advised by JRS were not claiming any benefits despite being eligible, while a further 3% were identified as not claiming enough.
Nigel Barlow, head of research at JRS, says the lack of awareness surrounding state benefits is a real concern.
He adds: "This extra help would not only provide a welcome relief to those less well off but ensure that pensioners receive what is rightfully due to them."
Andrea Rozario, director general of SHIP, says the research highlights the importance of obtaining thorough advice from a properly qualified source.
"The advice service should include a review of the state benefits for customers, to ensure they make the most of what they have," she says.
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