Nationwide has millions of members across the UK
Nationwide has uncovered £75 million in unclaimed benefits through a complimentary eligibility checker it introduced just seven months ago.
The ‘Better Off’ calculator, pioneering as the first to be accessible via telephone alongside online access, assists people in understanding which benefits they might qualify for. This development follows research from the Money and Mental Health Policy Institute that exposed obstacles stopping millions from verifying their eligibility for additional financial support.
The calculator – accessible to everyone, not exclusively Nationwide members – was created in collaboration with social policy data specialists Policy in Practice, during a period when approximately £24 billion in benefits remains unclaimed annually.
By providing both digital and telephone-based options, it guarantees broader access for people, including those unable or preferring not to use online services, helping them secure the support needed to increase their income – simplifying what can often be an intimidating and bewildering procedure, reports the Daily Record.
Since its debut last June, more than 18,000 people have completed a calculation, with over 11,000 households finding they could qualify for an average of £560 additional monthly income – amounting to £75.3 million yearly in potential assistance.
Nationwide is urging the UK Government to streamline access to unclaimed benefits. Alongside Policy in Practice, the nation’s biggest building society identifies three primary obstacles hindering benefit access that require government intervention. 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.”
