1 in 5 older adults on low income “can’t cover £50 cost”

One in five older people (21%) living on a low income would find it difficult or impossible to cover an unexpected bill of £50 without borrowing money, according to new research by Independent Age.

The charity’s new report, “Surviving Not Living”, also found that over half (52%) of the same group would struggle to pay an unexpected £250 bill without borrowing.

The YouGov polling of people in Britain aged 65 and over commissioned by Independent Age reveals a worrying picture among older people on low incomes, with one in five (20%) reporting that they have no savings to fall back on. When asked how they would manage an unexpected but necessary expense of around £250, one in three (33%) said they would need to use a credit card to cover the cost.

The report findings reveal just how difficult it would be for low-income older households to financially cope with an emergency bill. Unexpected car repairs average £617 a year, and a typical new, or replacement, boiler costs between £600 – £2,500.

Other emergency costs can include replacing appliances like fridges and ovens, furniture replacements, and mending damaged fixtures like roofs and doors. The charity says it has heard from older people who are going without items such as boilers, mattresses and fridges, because they cannot afford to repair or replace them.

The research also looked at other every day costs and found that the high cost of living is stretching budgets to breaking point across water, energy, Council Tax and broadband.

Recommendations

With almost two million older people across the UK living in poverty, Independent Age is calling for policies that protect people in later life who are on low incomes. This includes action to protect older people in financial hardship from unexpected emergency costs and rising household bills, and ensuring that everyone has an adequate income as they age.

Central and local governments should provide comprehensive financial help for those on a lower income facing emergency costs, and this support must be well promoted, consistent across the country and provide adequate funding for a range of emergency costs through schemes like the new Crisis and Resilience Fund which is expected in April 2026.
The UK Government should introduce a national water social tariff in England and Wales, while across Great Britain, the Warm Homes Discount should be increased to £400 to better reflect current energy bills.
The UK Government should introduce a national strategy to guarantee that every older person receives the financial support they are entitled to through the social security system, including Pension Credit.

Independent Age Chief Executive Joanna Elson, CBE said: “For older people on low incomes, even one unexpected bill can push them past the point where there’s anything left to cut back.

“It’s unacceptable that so many are seeing their income completely disappear on everyday essentials, like rent, water and food, which leaves them struggling to cover all their bills let alone save for emergencies like a broken fridge or oven.

“We have spoken to older people who have been forced to sit in cold homes because they cannot afford to fix their boiler. An intervention from the UK Government is urgently needed.

“More must be done to protect older people with little or no savings from unexpected bills. The Crisis and Resilience Fund, set to launch in April 2026, has the potential to achieve this but for the new scheme to be effective, it must be well-promoted and offer consistent support across the country for a broad range of emergency costs.”

Please share: