Nationwide has helped discover £75 million a year in unclaimed benefits through a free eligibility calculator it launched just seven months ago.
The ‘Better Off’ calculator, the first to be offered over the telephone as well as online, helps people understand what benefits they may be entitled to. The update comes as research released yesterday from the Money and Mental Health Policy Institute surfaces the barriers preventing millions from checking their eligibility.
The calculator - available to anyone, not just Nationwide customers - was launched in partnership with social policy data experts Policy in Practice, at a time when an estimated £24 billion in benefits goes unclaimed each year. By offering both an online option and a telephone-based service it ensures that more people, including those who can’t or would rather not use digital services, can access the support they need to boost their income - making what can be a daunting and confusing process easier.
Since launch last June, over 18,000 people have submitted a calculation, with over 11,000 households discovering they could be entitled to an average of £560 extra per month - totalling £75.3 million annually in potential support.
Nationwide is calling for the government to make access to unclaimed benefits simpler. Together with Policy in Practice, the UK’s largest building society highlights that there are three main barriers preventing access to benefits the government needs to address. These are:
- Awareness: many people are unaware they are eligible.
- Complexity: navigating forms, criteria, multiple applications can be daunting and time consuming.
- Stigma: negative perceptions persist, even though 40 per cent of benefit payments go to people in work.
Kathryn Townsend, Head of Customer Vulnerability for Nationwide said: “Millions of people across the UK are missing out on vital financial support they are entitled to - simply because the system is too complex to understand and access. That’s why we’re calling on the government to simplify the system, raise public awareness and help challenge the stigma that still prevents too many people from seeking the support they’re owed. By removing these barriers, we can ensure that vital financial help reaches every household that needs it and make the safety net work as it was intended.
“We encourage anyone to take a moment to explore what they may be entitled to, so they don’t miss out on support that could make a meaningful difference.”
