Bank of 'mum and dad' threatened by cost of living crisis warns Canada Life

clock • 2 min read

The cost of living crisis in the UK is set to threaten traditional financial support structures within families, suggests research from Canada Life. Based on the responses of some 2,000 adults in the UK in mid-April, the findings suggests that nearly half, 48%, of those who already financial support relatives or could do so believe this will be harder in the coming 12 months, or not possible at all. Almost three-fifths, 58%, of adults with living parents say they would find it difficult to offer financial support should their parents need it, while almost half, 47%, say the same for t...

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