Britons ‘missing out’ on financial aid

Much of the UK’s population is unaware of the financial assistance that may be available to them, one finance company has stated.

According to LV=, recent changes to the Welfare Reform Act mean people could receive financial aid if they are unable to work for long periods of time.

The news could be welcomed by those struggling with debt or facing bankruptcy during the current economic downturn.

A spokesperson for LV= noted that there was a “low level of understanding” of the issue among the consumers surveyed, stating that some may have expected to have been told about the changes by their employers.

“Almost 18 million people across the UK are unaware of financial support that could be available to them” the spokesperson added.

The LV= survey revealed that 20 per cent of the employees questioned did not know how much help they would be entitled to, while eight per cent stated they did not expect to receive any help from their employer if they cannot work for whatever reason.

By Tom Musk