HI Daily - Financial capability in the UK ‘stubbornly low’ - GRiD

Employers urged to discuss the benefits of group risk products

Levels of financial capability remain stubbornly low across the UK and 27 million working-age people do not have a sufficient savings buffer to allow them to cope with a significant income shock, research shows.

The figures, released for Financial Capability Week (13-19 November), also reveal 21 million working-age people do not have £500 saved to replace a fridge or mend a car and only half of people with families have any life insurance.

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