Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

62% of over-65s worried about heating their home

Age UK

Age UK is calling for the 5% rate of VAT to be scrapped from April until at least the end of 2022, and for additional support for older people on the lowest incomes

More than three in five (62%) over-65s are worried about heating their home, according to Age UK.

The proportion of those who said in January that they are concerned about the cost of heating their home has increased from 43% who expressed such fears when a survey was carried out in December.

Nearly half (45%) of over-65s are worried about having to reduce energy use due to financial concerns, up from 30% in December.

Age UK said a 78-year-old woman told the charity: I simply cannot cope with even higher bills.

Another woman, aged 74, said: If my energy bills increase as much as predicted, despite the help already given, I will not be able to heat my house, eat, feed my little dog, my only companion, and pay my bills without going into further debt as my savings have already been eaten away.

Age UK said the financial support for older people is nowhere near enough to match the scale of the problem.

It is calling for the 5% rate of VAT to be scrapped from April until at least the end of 2022, and for additional support for older people on the lowest incomes.

Caroline Abrahams, charity director at Age UK, said: Millions of older people across the UK are absolutely dreading the imminent price cap announcement and urgently need reassurance that help is on its way so they can keep their heating on.

A Government spokesperson said: We recognise the current cost-of-living pressures, which is why we are taking action to help. This includes providing support schemes worth more than £4.2 billion and extending the Warm Home Discount.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.