People over State Pension age urged to check for unclaimed benefits to boost income
dailyrecord.co.ukOne in seven people aged 65 and over has been turning to loans and credit cards to make ends meet during the cost of living crisis, according to a survey.
The Independent Age charity said its research suggests many older people are struggling alone and racking up debt as costs escalate.The organisation said pride was the biggest barrier to asking for financial support, with 32 per cent citing this.
Research for the charity by Opinion Matters involved a survey of 2,000 people under the age of 65 and 1,002 aged 65 and above in May this year, it showed that one in six (16%) of older survey respondents said they feel isolated due to their financial situation.More than half (57%) said they would not feel comfortable asking friends or family for financial support while 9% said they are hiding debt from their family.
Around 13 per cent said they have spent money they do not have rather than admitting to friends and family that they are struggling financially .Veteran radio DJ Tony Blackburn, 80, who is supporting the campaign, said: "There's a misconception that everyone in later life enjoys a financially comfortable retirement.
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