Age UK found one in five people aged 50 to 69 have had to borrow more or lumber themselves with extra credit to make ends meet
Millions of older people are struggling to keep their heads above water because of sky-high bills, a charity has revealed.
Age UK found one in five people aged 50 to 69 – equivalent to 3.4 million – have had to borrow more or lumber themselves with extra credit than usual in the past month to make ends meet.
The same goes for one in 12 over-70s – around 670,000 people.
Age UK said 70% of its older campaigners are very worried because their finances, or those of a loved one, have been impacted by bills.
It cites figures from the Office for National Statistics showing more than two in five over-50s are spending less on food and essentials. And 42% do not think they will be able to save any money in the next 12 months.
One 65-year-old man told Age UK: “I’m chronically disabled and have very little by way of savings but I have had to spend most of what little I have to keep me warm this past year. I can probably only manage one more winter without freezing in my home.”
A 63-year-old woman told the charity: “I am £1,500 in debt with my energy bills and I cannot see a way out of it.
“My arthritis and polymyalgia are getting worse, plus my mental health has deteriorated as I’m constantly worried about how I’m going to pay my bills. We don’t have enough money left for food.”
Age UK is calling on the Government to introduce a discounted energy tariff for disabled people, unpaid carers and those on lower incomes by April 2024.
Caroline Abrahams, charity director of Age UK, said: “The energy bill crisis is far from over. Some older people are struggling to pay their bills from last winter and many don’t know how they will cope when temperatures fall again.”
* Pensioners are paying as much as £87 million a year for mobile phone contracts that expired over a year ago. Virgin Media O2 says 60% of over-65s have been unknowingly paying for contracts that were paid off.
