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Topics: UK News, Money, Martin Lewis
Rhiannon Ingle
Martin Lewis has issued an urgent warning to anyone earning less than £60,000 to do a quick 10-minute check.
The Money Saving Expert has advised those whose salaries fall under the £60k bracket to see if they could claim certain benefits they are more than 'entitled' to.
The finance maestro revealed that approximately £19 billion worth of benefits are going unclaimed every year and has since urged the British public to see if they qualify for any of these credits.
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Lewis explained that such financial credits are 'under claimed' and can be received by people earning as much as £60,000.
He revealed that millions could in fact be eligible for such government schemes including: Universal Credit, Council Tax Support, Carer's Allowance, Pension Credit, Child benefit, Housing Benefit, and Water and Broadband Social tariffs.
In his latest Money Saving Expert newsletter, he wrote: "We've long urged you to check to make sure you get all the benefits you're entitled to, knowing millions were due a share of billions.
"And many most in need of help, often having long paid into the system, are missing out."
Lewis went on to outline the key pillars of the benefits calculator, Policy in Practice.
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The social policy software and analytics company works with councils, government, housing providers and community organisations to help families get benefits they qualify for which can, in turn, increase their income as well as prevent homelessness and debt.
The company's benefit and budgeting calculator, which is linked to Gov.uk, helps people to find out what support they may be eligible for.
Lewis added: "So with permission from Policy in Practice, we've taken its data of the numbers missing out on the main benefits, and added our own info on who can claim each of these many under claimed benefits, to see if we can help get you what you're due."
He went on to declare the most common benefit that Brits are 'under claiming'.
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Lewis states that almost one million people have been 'missing out' on Universal Credit income - a monthly payment to help with your living costs.
While low-income households are claiming benefits from the Department for Work and Pensions (DWP), the finance wizard explained that individuals with a household income of up to £40,000 can also be eligible for it - provided they have children, childcare costs and rent.
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Lewis has ardently campaigned for a particular benefit for many years now - Pension Credit which is given to those both on a low income and who claim the state pension.
While around 850,000 pensioners are said to be eligible for the payments of about £3,500 a year, but they are not currently claiming.
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The expert urges individuals who fall in this category to claim this benefit by next Friday (19 May) to receive the first £301 cost of living payment along with the future cost of living payments.
He said: "Pension Credit tops up your income. On average it's worth £3,500/yr, but claim even if you're only due 50p, as its superpower is to qualify you for extra benefits like council tax reduction and free TV licences."