To mark Carers Rights Day, taking place today (20 November), we are pleased to share our new report, Thinking Ahead: Supporting Carers to Manage their Finances which has been kindly sponsored by HSBC UK.
The report highlights the urgent need for improved financial advice, guidance, and support for the UK’s 5.8 million unpaid carers, many of whom face significant financial hardship. Our message is clear, with 1.2 million unpaid carers living in poverty, it’s vital that we strengthen the financial safety net for those providing essential care for family members and friends.
Specifically, the research reveals that:
- 1 in 5 unpaid carers are struggling to make ends meet.
- A third (34%) of those in this situation do not know where to go for financial guidance.
- 41% are unsure what benefits they are entitled to.
The findings underscore the barriers carers face in accessing help — from limited time and complex systems to a lack of tailored, trusted advice. The report also highlights several barriers that carers face when accessing support – from limited time to seek advice, a lack of tailored resources, to the stigma of asking for financial help and worries around confidentiality.
Concerningly, 63% of carers struggling to make ends meet have not accessed any guidance or resources in the last 12 months. Many carers also told us they would have made different decisions in the past if they’d had financial guidance at the time, such as staying in work for longer, increasing contributions to their pension and saving for the future at an earlier stage.
To address the barriers and financial insecurity that carers are experiencing, Carers UK is calling for:
- Better access to timely and accessible financial guidance and advice.
- Simplified systems for navigating social security and benefits.
- Greater financial support for carers to help them plan and save for the future.
You can read the full report here and a two page summary version here.
We set up Carers Rights Day as a national awareness raising day 25 years ago to help unpaid carers better understand their legal rights and the support they’re entitled to. Find more information about Carers Rights Day here.
