An alarming proportion of young workers in the UK have no plans for their future retirement in place, it has been revealed. It comes after a period of uncertainty stemming from the 18-month lockdown which saw 11.7 million employees out on furlough leave, at a cost of £70 billion.
People on State Pension not claiming ‘vital’ benefit worth an average of £1,900 each year
28.02.2022 - 15:15 / dailyrecord.co.uk
New figures released by the UK Government show that up to 850,000 families who were entitled to receive Pension Credit did not claim the benefit in the financial year 2019 to 2020.
The Department for Work and Pensions (DWP) said up to £1.7 billion of available Pension Credit went unclaimed. On average, this amounted to around £1,900 per year for each family entitled to receive the ‘gateway’ benefit.
Pension Credit gives people extra money to help with living costs if they are over State Pension age and on a low income - an estimated seven out of 10 of those entitled to Pension Credit did claim.
Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown, said: “Pension Credit take-up continues to inch up but there are still up to 850,000 pensioner households missing out on this vital benefit.
“Pension Credit boosts the income of the poorest pensioners and acts as a valuable gateway to other benefits such as help with heating bills and NHS treatment. If you are aged over 75 you are also entitled to a free TV licence.”
Up to 260,000 older people who were entitled to receive Housing Benefit did not claim the benefit either, according to the figures.
On average, this amounted to around £4,000 per year going unclaimed.
Helen said: “These are enormous sums of money that could really boost people’s income in retirement, and it is vitally important that those who think they may be entitled to support check to see if they are entitled.”
Morgan Vine, Head of Policy and Influencing at Independent Age, said: “This slight increase in Pension Credit uptake falls massively short of what older people need. It is scandalous that up to £1.7 billion set aside to help people over 65 entitled to support is still not reaching
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
dailyrecord.co.uk
16.03.2022 / 07:39
Full State Pension during retirement means you need to work this number of years
Planning for your retirement can never start too early, especially after the UK workforce experienced an unprecedented period of uncertainty during 18-months of lockdown which saw 11.7 million employees out on furlough leave, at a cost of £70 billion.
dailyrecord.co.uk
16.03.2022 / 00:15
Russian politician urges Vladimir Putin to fire 'ballistic missile' at US nuclear test site
A twisted Russian politician has urged Vladimir Putin to fire "a ballistic missile" at the largest weapons testing site in the US as a warning against interfering in the country's affairs.
dailyrecord.co.uk
14.03.2022 / 19:38
DWP benefits older people can no longer claim when they reach State Pension age
State Pension provides essential financial support every four weeks for around 12.4 million people across the UK, including 981,399 Scots.
ok.co.uk
12.03.2022 / 01:53
Harry and William's relationship 'hasn’t recovered since Oprah' interview, claims expert
Prince Harry's relationship with his older brother Prince William has 'still not recovered after Oprah', a royal expert has claimed. The Duke of Sussex, 37, who has ruled out returning to the UK for Prince Philip's memorial but 'hopes to visit the Queen as soon as possible', gave a bombshell interview alongside his wife Meghan Markle with Oprah Winfrey which aired in March 2021.
manchestereveningnews.co.uk
11.03.2022 / 18:15
HMRC issues warning to anyone who has Universal Credit or State Pension login
HMRC has sent out an urgent message to anybody who has a Government Gateway login.
manchestereveningnews.co.uk
10.03.2022 / 13:27
My E.ON energy bills are going up by a massive £1,000 - but do we stay or switch?
We've all seen the headlines, we are in a cost of living crisis. Whether it's the unfolding Russian invasion of Ukraine, or concerns over poverty in the UK, it seems there's plenty to worry about right now.
ok.co.uk
07.03.2022 / 16:33
Queen 'desperately' wants to meet Meghan and Harry's daughter Lilibet, claims author
The Queen is really "desperate" to meet her great granddaughter Lilibet, and grandson Prince Harry, 37, and Meghan Markle's second child, according to claims from a royal author.The Duke and Duchess of Sussex, 40, gave their child a great honour by naming her after her great-grandmother the Queen. But sadly, despite baby Lili being born last June 4, the 95 year old monarch still hasn't had the opportunity to meet her yet given the couple now permanently reside in Montecito, California. It is believed that Princess Eugenie, 31, is the only royal to have made the trip across the pond to America.
dailyrecord.co.uk
04.03.2022 / 15:15
State Pension payments will rise next month - here are the new weekly rates
The Department for Work and Pensions (DWP) recently confirmed that State Pension payments will increase by 3.1% in line with the Consumer Price Index (CPI) from April 11, 2022.
manchestereveningnews.co.uk
02.03.2022 / 14:33
Average petrol price hits new record high of more than £1.51 per litrefuel
The average price of petrol has hit a new record high as the cost of oil soars due to Russia’s invasion of Ukraine.
ok.co.uk
23.02.2022 / 14:39
Queen must 'stand up' to 'annoying' Harry's line of succession claims, says royal expert
The Queen has faced a challenging month after testing positive for Covid. She’s worried royal followers by sharing that she feels frail, and Prince Harry isn’t helping matters.The Duke of Sussex, 37, is suing the government over a decision to remove his paid-for security while in the UK. In the court case, his representative said: “In the absence of such protection, Prince Harry and his family are unable to return to his home.” But his claims have riled royal expert Angela Levin.