Around two million pensioners are missing out on council tax benefit worth £1.1 billion a year, according to Age Concern.

The charity says if older people took advantage of the benefit they could save £540 per person on their council tax bill – almost half of the current average band D property bill of £1,214.

Despite being offered various valuable benefits such as Pension Credit, Council Tax Benefit, Housing Benefit and Attendance Allowance, OAPs are more likely than any other age group to fail to make a claim.

"Millions of pensioners across the UK are struggling to manage on a really low fixed income and are increasingly anxious about paying their bills," said Gordon Lishman, Age Concern's director-general.

"It's really worrying that so many older people are still not receiving the financial help that they are entitled to."

Age Concern believes pensioners are reluctant to claim because they are unsure how to go about doing it or they feel there is a stigma attached to asking for benefit.

The charity has launched 'Your Rights Week', an annual campaign to encourage older people to claim the money they are entitled to.

Learn more about Pensioners Saving patterns and see how you can prepare for retirement.