Age UK Nottinghamshire are urging older people to take control of their finances over the coming year.
Clive Parkin, Director at Age UK Nottinghamshire, said:“While many of us may have broken our New Year resolutions it is still important for older people to ensure they get more from the pound in their pocket. It’s never too late for people to take stock and put their finances first.
“Many people in later life are on a fixed income which means that maximising their income is essential. Our straw poll* found that 49% people in the East Midlands aged 65 and over feel financially unprepared for their retirement. Many say this is because they have not saved enough towards this stage of their life (14 per cent) or that rising living costs are eroding their disposable income (42 per cent).
“In 2014 we encourage older people to review their financial products and purchases. Once in retirement people need to be savvier with their income, to shop around to find not only value for money but also a product that’s right to fit their needs. For a better and brighter time in retirement in 2014 and beyond we want the consumer to be empowered to make better decisions and for the industry to ensure products and services meet the needs of those in later life.”
Age UK Nottinghamshire can be contacted on 0115 841 4447 or at their offices offices located at Age UK Nottingham & Nottinghamshire, 48 Upper Parliament Street, Nottingham NG1 2AG, 26/28 Regent Street, Mansfield NG18 1SS or 21 Cartergate, (next to Argos) Newark-on-Trent NG24 1UB.