Reluctant pensioners are being urged to apply for pension credit

According to new research, a large number of Scottish pensioners aren’t seeking assistance or checking if they are entitled to financial benefits, such as pension credit – designed to give people extra money to help with living costs if they are over state pension age and on a low income.

Findings from Royal London, unveiled as part of its Take the Credit campaign, reveal that almost half

(47 per cent) of pensioners in Scotland don’t like to ask for support or help from their friends or family, even if they need it. Some 39 per cent haven’t checked if they qualify for pension credit this year. Meanwhile, 16 per cent stated they would be more likely to apply for pension credit if they knew others in their community were also applying.

Department for Work and Pensions figures show that pension credit is currently worth an average £3,900 per annum. It is also what is known as a “gateway” benefit, in that it also gives those who qualify access to other benefits.

Royal London, a mutual life, pensions and investment firm, is urging pensioners to Take The Credit before 21 December, and find out if they qualify for the benefit.

In terms of why people aren’t trying to access pension credit, the survey found that 10 per cent of UK pensioners believe there are people who require more financial assistance than they do. It also uncovered that terminology around schemes like pension credit can result in a reluctance around applying. Some 16 per cent of UK pensioners said they would be more likely to apply if it wasn’t described as a “benefit” and the same number said they would feel embarrassed to tell their loved ones if they were to apply for pension credit.

Royal London’s campaign aims to empower pensioners to seek access to important financial support they may qualify for. One way they can check if they may qualify for pension credit is to use a free two-minute calculator powered by charity partner Turn2Us, available on Royal London’s website, to see what financial support they may be entitled to.

Sarah Pennells, consumer finance specialist at Royal London, underlines the fact that not only does pension credit give low-income pensioners more money, but it entitles them to extra help.

She adds: “Some of the main reasons people miss out on pension credit are because they don’t think they would qualify, or they don’t check because they feel too ashamed to admit they need extra help. We need to spread the message that there is no shame in accepting help that is available.

“There is also a significant generational gap in awareness, which means family and friends aren’t prompting their loved ones to check if they qualify.

“The good news is that there are free-to-use online tools and calculators, for those who are comfortable using the internet, but you can also apply by telephone or post.

“Times have been hard in recent years so it’s important that we come together and encourage pensioners, whether they be family, friends or neighbours, to look into all the options of support that might be available.

“Retirement should be a time for people to spend their days doing things they enjoy once their working life is behind them. Pension credit can provide some additional funds to enable pensioners to worry a bit less about the day-to-day bills.

“Whether you’re a pensioner, or know someone that might qualify, checking what help may be available is a simple step to take today that could have immeasurable benefits. This is why we are encouraging as many people as possible to consider if they or a loved one could ‘take the credit’, and check whether they qualify.”

Emma Kenny, psychologist, says: “It seems that many pensioners are missing out on financial support they are entitled to because they feel ashamed or reluctant to ask for help. For many, there’s a stigma around seeking assistance, often rooted in the belief that it’s a sign of failure or that others might need it more. This is particularly true for older generations who were raised to value self-reliance and may see asking for help as a loss of independence or dignity, when in fact it means that they are taking control, which is ultimately an empowering action to take.

“What’s important to understand is that schemes like pension credit aren’t handouts, they’re a recognition of the contributions people have made throughout their lives, these funds could make such a significant difference to someone’s quality of life.

“We need to shift the narrative around support, encouraging people to see it as something they’ve earned and deserve.

No-one should feel shame for seeking the help they need to live with dignity and comfort in later life.”

Credit where credit is due