The internet ‘could help indebted pensioners’

The digital divide that exists between the UK’s older population and its younger generations could mean that those in retirement are financially worse off as a result – and could risk falling further into debt, a new report suggests.

Research conducted by the Institute for Financial Studies on behalf of Age Concern and Help the Aged revealed that non-pensioners have increased spending on technology more than twice as fast as older people in the last 12 years.

This is supported by recent statistics from the Office for National Statistics which showed that the majority of those aged over 65 had never been on the internet.

Age Concern and Help the Aged’s technology and digital inclusion development manager Nancy Johnson commented that not being able to compare prices on the web could cost elderly people dearly.

“The internet isn’t a luxury anymore but a necessity to ensure you get the best information and the best deals,” she said.

In other news, a money advice charity – the Money Advice Trust – recently advised people to try and become free of debt before reaching retirement age.

By Sarah Adie