Category: Money Matters News

A new report from Independent Age shows the hidden reality of facing financial hardship in later life and explores the groups of older people most likely to be affected.

New research from Independent Age has found that the cost-of-living crisis is causing many people over 65 to turn to loans and credit cards to make ends meet, as they keep their financial worries from their family.

To mark Pension Credit Week of Action (12th- 16th June), national older people’s charity Independent Age is urging everyone in later life who is struggling financially to check if they are eligible for the entitlement.

Taxpayers now have until 5 April 2025 to fill gaps in their National Insurance record from April 2006 that may increase their State Pension – an extension of nearly two years – the government announced today (12 June).

Charities are expressing their concerns that – despite the reduction in average energy bills as from July – many pensioner households will face real hardship in the months ahead.

Independent Age reacts to disappointing Pension Credit caseload statistics: “These numbers show that the government’s broad brush approach of awareness raising simply isn’t working fast enough.”

Time is fast running out for eligible older people to apply to receive £301 from the Government’s 2023/24 cost of living support package, says Independent Age, the national older person’s charity.