The Money and Pensions Service (MaPS) has launched a new benefits calculator in partnership with Scottish fintech Inbest. The free online tool will be embedded into MaPS’ MoneyHelper website to help people find out which benefits and social tariffs they could be entitled to.
According to the website Entitledto.co.uk, there could be billions of pounds in unclaimed benefits across the country. The new tool allows users to perform a quick search using their basic information, with the results delivered in less than one minute, the calculator will then invite them to fill in a more detailed search to confirm what they might be eligible to claim.
Given the increasing cost of living, MaPS said it’s now more important than ever that people find out about other sources of income, along with any support available to help them manage their money and pensions.
The initiative comes after MaPS launched a new campaign last month to raise awareness of the free help and guidance available to everyone across Great Britain.
Commenting on the new tool, Michael Royce, Senior Policy and Propositions Manager at the Money and Pensions Service, said: “The most common reason why so much goes unclaimed in benefits is that people are unaware of what they’re entitled to or assume that they aren’t eligible.
“We look forward to working closely with Inbest and hope that making their benefits calculator available through our MoneyHelper website helps millions of households who are currently missing out to maximise their income.”
Manu Peleteiro, founder and CEO at Inbest, said: “We are thrilled to partner with MaPS and power their MoneyHelper benefits calculator. Working with MaPS colleagues is a fantastic learning experience, and their input is crucial to continuously improve our calculator and shape our product roadmap.
“We are looking forward to working with MaPS and contributing to the delivery of the UK's Strategy for Financial Wellbeing by helping people access the benefits, grants and social tariffs they are eligible for.”
What is an online benefits calculator?
Online benefit calculators quickly work out if you are missing out on any benefits and best of all, they are completely free, independent and confidential to use - so there’s nothing to lose.
In just a few minutes you could find out how much you may be able to claim in extra support, just by entering details about yourself, your residential status, your working status and any savings you have.
You can use an independent benefits calculator to find out:
- What benefits you could get
- How to claim
- How your benefits will be affected if you start work
Where to find help
Advice Direct Scotland
This online tool is the first to fully integrate devolved benefits, including the Scottish Child Payment.
It provides a free and impartial assessment of entitlement to a range of benefits such as Universal Credit, crisis grants and support payments.
Turn2us
Information on income-related benefits, Tax Credits, Council Tax Reduction, Carer’s Allowance, Universal Credit and how your benefits will be affected if you start work or change your working hours.
Policy in Practice
Information on income-related benefits, Tax Credits, contribution-based benefits, Council Tax Reduction, Carer’s Allowance, Universal Credit, how these are calculated and how your benefits will be affected if you start work or change your working hours.
entitledto
Information on income-related benefits, Tax Credits, contribution-based benefits, Council Tax Reduction, Carer’s Allowance, Universal Credit and how your benefits will be affected if you start work.
What you will need
You will need accurate information about your:
Savings
Income, including your partner’s
Existing benefits and pensions (including anyone living with you)
Outgoings (such as rent, mortgage, childcare payments)
Latest Council Tax bill
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