IncomeMax reaches more than 100,000 vulnerable individuals nationwide
The latest statistics show that approximately 2.1 million UK pensioners live below the poverty line. Furthermore, 17.4% of the working population struggle to make ends meet with low wage hikes and rising costs of living. Strangely, in 2021, at least £15bn of benefits were left unclaimed, with 45% of vulnerable households never checking their benefits entitlement.
There are several interrelated reasons why people don't claim their state benefits, including lack of awareness, unwillingness to provide personal data, negative mindset about receiving benefits and the complex process of claiming. According to IncomeMax CEO and Founder Lee Healey, of all these reasons, lack of awareness and the idea of having to deal with the Government to claim benefits serve as the most significant barriers to claiming benefits.
Having worked in the Department for Work and Pensions (DWP) for four years, Healey is no stranger to the difficulties and challenges faced by vulnerable families in the UK. He saw first hand how valuable the correct information could be when it comes to claiming state benefits. Using his experience from previous work with DWP and the Disablement Association of Barking & Dagenham (DABD) charity, Healey founded IncomeMax as a national social enterprise in the wake of the 2007/08 financial crisis.
More than twelve years since establishing the company in 2009, IncomeMax has helped more than 100,000 clients with their finances through personal money advice, guiding them to maximise their income, helping identify and find new income sources and assisting in claiming their state benefits. IncomeMax has over 30 full-time staff working to help vulnerable families identify millions of pounds in additional income, which has now reached more than £30 million in total.
IncomeMax has received several recognitions, the latest of which was reaching the 2021 Nesta Rapid Recovery Challenge final, a project created by Nesta in partnership with JP Morgan Chase Foundation, the Money and Pensions Service and DWP. The Challenge aimed to support and scale services that improve jobs and money access for people across the UK.
Other accolades include Best Outsourcing & Partnership Initiative: Vulnerable customer solutions and Vulnerable Customer Strategy of the Year: Debt advice from the 2020 Credit Awards.