Failure to seek help on benefits consigns many home owners to poverty
In the attached press release, research from Just Retirement Solutions, the specialist financial advice arm of the Just Retirement Group, revealed that more than half of the customers seeking advice on equity release were failing to claim any or all of the state benefits they are entitled to.
Just Retirement's research found:
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20% were failing to claim any benefit, up from 18% in 2010
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On average these people are losing £872 a year, with the biggest loss £8,766
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34 % are receiving some, but not all their benefits, up from 26% in 2010
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On average these people are losing £676 a year, with the biggest loss £1,408
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Stephen Lowe, Director at Just Retirement, said: "The figures provide more compelling evidence of a ‘squeezed middle' who are finding it hard to make ends meet. They tally with official figures showing it is mainly home owners on low incomes who are missing out."
Click here to view release
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