Increasing numbers of people aged over 50 in the UK do not have enough money to pay for basic necessities, a study of labour market statistics has shown.
Claims for universal credit, which is available only to households with savings of less than £16,000, from the over-50s have more than doubled since March.
Stuart Lewis, the founder of Rest Less, a website for the over-50s, said: “Sadly, this is only the tip of the iceberg as many of those unemployed in their 50s will not be eligible to claim universal credit. The surge in older claimants highlights the extremely precarious financial situation that many of this demographic find themselves in today.
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