A SIMPLE and free tool can reveal if you are missing out on £7,000 a year in cash payments – and it takes just 10 minutes.
With the cost of living still biting, it’s a good time to make sure that you’re getting all the benefits that you’re entitled to.
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But it’s easy to miss out on payments you never knew existed, or never considered that you’d be eligible for.
Around 15,000 people could be up to £7,000 a year better off a year after checking their entitlements, according to Christians Against Poverty (CAP).
The charity has a free online benefits calculator that it runs in partnership with fellow anti-poverty charity, Turn2Us.
One savvy saver, Lisa, found out that she was entitled to an extra £250 a month in benefits despite being in work.
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She said: “I thought that if you’re working, you don’t get anything.
“But then I thought it’s only going to take a couple of minutes, and it didn’t cost anything to try it, so just out of curiosity, I did it.
“Then I heard back and was told I would be entitled to around £250 extra a month.
“I went onto the government website and filled in all the forms online, and they told me I would be entitled to Universal Credit.
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“With the cost of living going up, it has made a huge difference. I can pay my bills. It has kept me out of debt. It has taken a lot of pressure off.”
The average monthly amount people who use the calculator were found to be entitled to was £579.
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CAP said it takes as little as ten minutes for the calculator to work out the benefits that you are entitled to.
Before using the tools, make sure you have key financial information to hand, such as bank and savings statements, and information on pensions and existing benefits.
If you live with a partner or family, get their basic financial information together too as this could affect your claim.
Gareth McNab, CAP’s director of external affairs, said: “I’m urging everyone, please encourage your friends and family and check yourself to see if you’re entitled to some form of benefits by using the Turn2us benefits calculator.”
You can find the calculator by visiting capuk.org/benefitscalculator.
Policy in Practice and Entitledto also have free and helpful benefit calculators on their website.
What might you be missing out on?
Some of the benefits that people regularly don’t claim include Universal Credit, pensions credit and child credit.
The benefit is a payment designed to help people on lower incomes or who are out of work with their living costs.
You may be able to get Universal Credit if:
- You’re on a low income or out of work
- You’re 18 or over (there are some exceptions if you’re 16 to 17)
- You’re under State Pension age (or your partner is)
- You and your partner have £16,000 or less in savings between you
- You live in the UK
How much you can get varies substantially depending on your living circumstances.
Plus, almost one million pensioners are missing out on Pension Credit.
Typically, it is worth almost £4,000 a year on average, and you can get extra help if you’re a carer, disabled, or responsible for a child.
Pension Credit is available to people over the State Pension age, currently 66, who live in England, Scotland or Wales.
To qualify, you need to have a weekly income of less than £201.05 if you are single and £306.85 if you are in a couple.
Meanwhile child benefit, which helps families with the cost of raising children, is available if you are responsible for bringing up a child who is under 16, or under 20 and still in approved education or training.
It’s paid every four weeks and there’s no limit to how many children you can claim for.
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If either you or your partner/husband earns more than £50,000 individually, your entitlement to child benefit drops and you will have to pay some back via a tax return.
If either person earns over £60,000 you’re not eligible for any of the benefit.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
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