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Elderly missing out on funding

30th May 2014

This news article is from Handicare UK. Articles that appear on this website are for information purposes only.

While it is widely known that thousands of elderly residents in the UK are struggling with their finances, there is still over £5 billion in Government benefits and funding that is going unclaimed every year that could help with the purchase of necessary everyday items and bills.

While there are many different schemes and help available in the purchase of mobility aids and stair lifts, the pressure of the cost of everyday purchases and household bills could be dramatically reduced with more applications for this unused funding.

A report from elderly charity Age UK found that as many as one in four elderly residents in the UK over the age of 65 are missing out on funding from the government that they are entitled to. This has left a quarter of those in this age group feeling financially worse off this year in comparison to the previous year, according to the charity’s Chief Economist’s Report.

No need to struggle

Much of the financial struggle faced by pensioners comes from such residents living on a low, fixed income, whilst the price of food and energy has increased dramatically in recent years. While many schemes can help with the funding of such necessary aids as stair lifts for older people and hand rails, the government funding that is going unclaimed could assist not only with such purchases but everyday living costs as well.

The government itself has found that as many as one in 10 pensioners would be unable to afford an unexpected bill of £200 to replace a broken washing machine, with half that figure being forced to dip into savings in such an event.

Handicare recognises that elderly residents in the UK already face challenges in today’s financial climate, which is why they produce the most affordable mobility aids including motorised riser recliner chairs and bathroom assistance aids to make home life more comfortable.

Image Credit: Bahadir Yeniceri (shutterstock.com)