People aged over-50 are facing a lifetime of financial insecurity as a report reveals which age group is being hit the hardest by the cost of living crisis.
Research from Edinburgh University’s Smart Data Foundry found economic inactivity rates have risen by a third for the over-50s age group since 2019.
The research also suggests that people aged 50 to 54 could experience double the financial vulnerability risk than those aged 70 to 74.
Record-breaking rises in inflation and soaring energy bills are leaving those in their 50s and 60s facing the “perfect storm” of redundancy and ill-health, combined with a lack of savings on pension provisions, according to the leading UK data scientists.
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