THE UK's poorest pensioners receive an average of £2,600 less a year in state support than the richest, according to research.
The worst-off fifth of pensioners, who rely on benefits for nearly 90 per cent of their income, receive £7,644 a year on average in support from the government.
This is on top of just £1,248 in other earnings, leading to a yearly income of £8,840.
In comparison, the richest pensioners receive state support amounting to £10,244 on average, despite their other income being almost £23,000 higher per year, according to research by Just Group.
The financial services firm analysed Department for Work and Pensions income data for 2015 to 2018.
The second-richest group of pensioners receive the most state support on average at £11,700 – £4,056 more per year than the poorest.
How to find out if you're owed extra
IF you're struggling to get by in old age, here's how to check if you're owed money.
Even if you're not entitled to claim the full state pension and you don't have additional pension pots then fear not because you may be able to claim extra benefits.
It's worth doing as it could boost your bank balance by thousands of pounds per year.
Luckily, there are loads of online tools available to check what you're entitled too and how to claim – check out our round-up.
Charity Age UK also offers an online benefits calculator covering England, Scotland and Wales.
If you prefer speaking to someone directly, simply give Age UK a call on 0800 678 1602 or pop by your local branch.
Before using the tools, make sure you have any financial information to hand, such as bank and savings statements, and information on pensions and existing benefits.
If you live with a partner, get their basic financial information together too as this could affect any eventual claim.
Some of the benefits can be backdated but it depends on your individual circumstances.
The Joseph Rowntree minimum income standard, a common measure for a decent standard of living for pensioners, currently sits at £10,452 a year.
Just Group said the poorest pensioners could be receiving the least state support on average because they're less likely to qualify for the full state pension.
Plus, separate research by the firm has found that many aren't claiming all the benefits they're entitled to.
To make sure you're not losing out, check out our guide in the box above.
Stephen Lowe, group communications director at Just Group, said: "We found that half of all pensioner homeowners are not claiming any benefits beyond the state pension and a further fifth are not claiming their full entitlement.
"Many assume that because they own their property they are not entitled to extra support, but we would encourage all retirees to check whether they are eligible to additional income which could be worth thousands of pounds each year."
"Poorer pensioners may also be less likely to receive full state pension and, if they were lower earners while working, they could also have missed out on additional state pension."
Women are £106,000 worse off than men in retirement due to lower paid jobs and part-time jobs, research found last week.
Hundreds of thousands of women could also be entitled to an extra £129 a week in their pension pot.
Plus, we explain how to boost your state pension by up to £250 a year.
Source: Read Full Article