Letter from the Founder: The money people are leaving behind

There is a stat I keep coming back to.

More than £24 billion in benefits and support goes unclaimed in the UK every year. Not because people are not eligible, but because they assume they are not, or they simply do not realise what is available to them.

I see this pattern again and again. People are working hard, doing what they think is right financially, but still missing out on support that is there to help them. And in the current environment, while so many households are struggling with the cost of living, this kind of support can make a meaningful difference.

Over the past few weeks, I have been looking more closely at where this money is being left on the table. There are five areas that come up consistently. The first is Pension Credit, one of the most underclaimed benefits in the UK. If you are over state pension age and on a lower income, it can top up what you receive each week. What many people do not realise is that it can also unlock other support, from help with council tax to NHS costs. Despite that, a huge number of eligible pensioners still are not claiming it.

Council Tax Reduction is another that often gets missed. Many people assume their bill is fixed, but it is not. If you are on a lower income, you may be entitled to pay less, or sometimes nothing at all. The catch is that you have to apply for it, as it is not done automatically.

Then there is Universal Credit. There is still a strong perception that this is only for people who are not working, but that is not the case. Millions of people in work could still be entitled to a top-up, depending on their income and circumstances.

Carer’s Allowance is also widely overlooked. If you are spending at least 35 hours a week caring for someone, you may qualify. Many people do not think of themselves as a carer in an official sense, even though they meet the criteria.

Finally, there is childcare support. Eligible working parents in England can now access up to 30 hours of free childcare a week for younger children. This has expanded recently, but awareness has not caught up, so many families are still paying more than they need to.

What stands out is how simple the barrier often is. It is not that these systems are impossible to navigate. It is that most people never check in the first place.

There are free tools available that can do this for you in a matter of minutes. Sites like EntitledTo and Turn2Us allow you to enter your details and see what you might be entitled to. Most people assume they will not qualify, but many who do check are surprised.

If there is one small action worth taking this week, it is this. Check. Because this is not about small optimisations. For some people, this is the difference between getting by and having a bit of breathing room.