New findings from Just Retirement have found that many UK pensioners are missing out on extra money that could help them avoid debt, with the total loss estimated to be around £500 million.
The group say that many retired men and women fail to look into the open market option where they are assessed to see if they qualify for extra money.
David Cooper from Just Retirement believes that not enough is being done to make consumers aware of the open market option and says something should be done to improve the situation.