Financial pressure taking its toll on UK pensioners

Caught between rising costs and low
investment returns, pensioners in the UK are under pressure to make
ends meet reports Axa.

For many, money worries are
severely affecting their mental and physical health.

Dubbed the Money Sickness Syndrome
it was first identified four years ago by mental health expert
Roger Henderson and, according to Axa some 9m pensioners are
displaying SMS symptoms.

Symptoms of finance-related stress
include anxiety (43% of pensioners), lack of concentration (22%),
insomnia (24%) and feeling depressed (21%).

Axa found that pensioners are also
the most concerned of all groups about their situation
deteriorating over the next year with 53% expecting it to
worsen.

However, pensioners are also among
the least likely to have taken any practical action to get out of
their financial fix. Axa noted that only 5% of pensioners have
sought the help of an independent financial adviser.

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