Rising Cost Of Living Crippling Pensioners Finances | Debt Advice Foundation

Rising Cost Of Living Crippling Pensioners Finances

A study carried out by the charity AgeUK has revealed pensioners are finding it difficult to cope with the rising costs of living. 47% of those surveyed stated that they are were ‘just getting by’with a further 11% saying that they were ‘really struggling’ to cope.  Worryingly, 11% said they had fallen in to debt because of mortgages, credit cards or bank loans, whilst many had switched to lower cost substitute goods out of necessity.

A study carried out by the charity AgeUK has revealed pensioners are finding it difficult to cope with the rising costs of living. 47% of those surveyed stated that they are were ‘just getting by’with a further 11% saying that they were ‘really struggling’ to cope.  Worryingly, 11% said they had fallen in to debt because of mortgages, credit cards or bank loans, whilst many had switched to lower cost substitute goods out of necessity.

The charity recently launched a national campaign called ‘More Money In Your Pocket’, which aims to inform pensioners about any potential benefits they are entitled to. The charity also revealed a staggering £5.5bn in pensioner benefits remains unclaimed each year.

Agu UK charity director, said “This is money that could make a huge difference to people's quality of life. Ultimately, the best way to ensure that people receive the benefits they are entitled to is for them to be paid automatically.”

To read the full article click here.

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