Nearly seven in 10 pensioner homeowners eligible for State Benefits are missing out, Just Group’s annual customer insight report reveals

autumn statement

Guarantee Pension Credit is the main benefit targeted at helping low-income pensioners. It has the highest take up rate of all the four key benefits with seven in 10 (72%) who are eligible claiming. But those failing to claim are missing out on an average £2,265 extra income per year, the most of all the benefits.

Savings Pension Credit has the lowest take-up rate at just 45% of those who are eligible. Those failing to claim are missing out on £596 a year. Council Tax Reduction is claimed by less than half (47%) of those who are entitled to claim with an average shortfall of £748 a year.

About a quarter of Just Group’s lifetime mortgage enquiries are from those who are yet to reach State Pension Age and become eligible for Pension Credit but who may be able to claim Universal Credit. Take-up among those eligible is just 43% and the average income they are missing out on is £2,806 a year.

2021 Guarantee Pension Credit Savings Pension Credit Council Tax Reduction Universal Credit
Eligible to claim


6% 6% 23% 2%
Take-up rate among those eligible to claim


72% 45% 47% 43%
Average annual value of new claim identified


£2,265 £596 £748 £2,806

Overall, 49% of those eligible to claim were totally missing out on one of the key pensioner benefits, 8% were missing out on two benefits and 2% were missing three types of benefit.

“Our insight broadly reflects government figures which show that take-up of Guarantee Pension Credit is 70% and Savings Credit 42% overall,” said Stephen Lowe.

“For the two elements of Pension Credit, the government estimates up to a million households are failing to claim up to £1.8 billion or around £1,700 each. Couples are less likely to take up their entitlement than single people and the over-75s are less likely to claim than younger pensioners.”

He said the findings once again raise questions about the support and guidance available to those
struggling for income, particularly among homeowners.

“It reinforces the message that benefits information is integral to retirement guidance and that those struggling for income should check if they are missing out which many fail to do. Our research last year found nearly half (44%) of homeowners aged over-65 had never checked their entitlement to State Benefits compared to just 16% who are renting.”

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