Peter Williams, 76, from Cardiff assumed he was not entitled to a state pension after he filled out the forms when he retired but heard nothing back from the government.
When he approached equity release broker Responsible Life about releasing cash from his property, his adviser discovered Peter had missed out on 11 years of state pension payments.
The adviser, Graeme Donegani, called the state pension claim line and was told Peter was owed £132,800 for all the unclaimed years. He was also entitled to £274 a week.
Peter had been surviving on two workplace pensions, worth £243 and £275 a month respectively for more than a decade and had been forced to stop going to his local pub and going on holiday.
Steve Wilkie, managing director of Responsible Life, said: “It’s no exaggeration to say this money will change Peter’s life. It just goes to show all retirees need to make sure what their entitlements are, and if you make enquiries with the tax office no news isn’t necessarily bad news.”
Peter said: “Words cannot describe the elation I feel. Graeme’s open-handed approach to my situation has changed my life and provided me with a very positive future.
“I no longer need to release equity in my property and will be able to live comfortably on my pensions.”