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Poverty among UK elderly could increase debt advice needs

Poverty among UK elderly could increase debt advice needs

- Monday, 27 July 2009

The UK has one of the highest levels of poverty among over-65s in Europe, according to figures released by the European Commission.

The figures indicate that the UK has the fourth highest level of poverty among retirees in the 27 member states of the European Union (EU), with many pensioners living on incomes well below the national average.

Increased financial difficulties among a demographic less able to balance economic problems with additional work could result in an increase in the need for debt advice.

The rate of pensioner poverty in the UK stands at 30 per cent - significantly higher than the EU average of 19 per cent.

Brendan Paddy of Age Concern and Help The Aged told the BBC: "The findings are quite shocking, particularly because some years ago we were beginning to see poverty amongst older people in the UK begin to drop, but that progress has now very definitely stalled."

In 2006, the European Centre warned that the UK had one of the highest poverty risks amongst its elderly population in the EU.
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