New benefits calculator launched to help people find the support they’re entitled to
The Money and Pensions Service (MaPS) has launched a benefits calculator in partnership with Scottish fintech Inbest.
The free 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 United Kingdom.
Users will be able perform a quick search using their basic information, with the results delivered in less than a 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 says 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 on offer.
Michael Royce, Senior Policy and Propositions Manager at the Money and Pensions Service, said: “The most common reasons 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.”