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Finance-related worries 'a problem among pensioners'



Many over-65s in the UK are concerned about the state of their finances, it has been suggested.

In news that may have been noted by those seeking personal insolvency advice, AXA has described how such problems can have a detrimental impact on people's health and wellbeing.

The organisation's Money Sickness Syndrome report highlights how the strongest link between finance and ill-health is to be found in the pensioner age range.

In particular, it observed that 43 per cent of this group suffer from anxiety, while 24 per cent cite insomnia as an issue.

Moreover, the government's intention to raise the retirement age to 65 means that many older staff are concerned about the prospect of having to work later into life.

Responding to the data, Eugene Farrell, head of psychological health and wellbeing at AXA, commented: "Pensioners today have a lot to contend with. And while it's no surprise to find money worries are a concern for them, it is deeply worrying that it is affecting their health in such a way."

According to Age UK, the amount of jobless older people has increased by more than 50 per cent this year.

Posted by Fiona White
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