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

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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