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Payment protection: Older people worse affected by price hikes

People currently looking for payment protection may be interested to hear that older people are going to be affected twice as badly by price hikes than their younger counterparts.

That is according to Simon Bottery, director of fundraising, policy and communications at Independent Age, a charity offering support to older people, enabling them to stay in their own homes for as long as possible and lead active and fulfilled lives.

Mr Bottery said: "Inflation is higher for food and fuel, which take up more of their spending than most people of working age.

"Older people need to keep their room temperatures higher than younger people to stay healthy and they are also, perhaps because of problems with mobility, likely to spend a lot more time indoors, pushing their fuel costs up even further."

He added that many older people may need to cut back on basics or begin using their savings in order to avoid the cold having a detrimental affect on their health.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.

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