UK - Pension shortfalls are forcing grown-up children to make plans to support their parents financially, a new study shows.
The Skipton Building Society survey found that 40% of adults had concerns over their parents’ finances and many were prepared to pay an average of £76 a month to help them cope with any pensions shortfall.
Of the 1000 people questioned, only 20% claimed their parents had a pension on which they could rely and 33% of 25-to-40-year-olds surveyed were prepared to invite their parents to live with them.
Skipton Building Society spokeswoman Jennifer Holloway said the research showed a role reversal with grown-up children making plans to support their parents financially.
She added: “Although this is worrying, it is also reassuring to see traditional family values are still a priority in society today, as children consider inviting their mums and dads to move in.”
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