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PPI Claims: Pensioners 'to be worse off in future'

Older couples who are approaching retirement could think about boosting their financial income by making a payment protection insurance (PPI) claim or seeing if they are eligible to receive a credit card refund.

New research from Age UK has found that in the future couples who have one partner receiving a pension and the other still working could be up to £100 a week worse off than they currently are.

The charity stated that the introduction of Universal Credit would mean it would be more financially viable for a couple to split up and live alone.

Michelle Mitchell, Age UK's charity director, said that the current regulations are just enough to keep a retired couple above the poverty line and even those couples who can still work will find it difficult to make up the deficit. 

PPI claims could also be useful for the people who have not made any financial arrangements for retirement.

According to recent research from Aviva, 37 per cent of over-55s have yet to start saving.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801234211-ADNFCR

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