A third of midwives ‘provide unpaid financial support or care to loved ones’, survey finds

A third of people aged 40 to 60 provide unpaid financial support or care to at least one loved one – in addition to their work and other family commitments, a survey has found.

According to a study published by Legal & General, a 10-year-old already feels that the level of support they provide is not sustainable.

One in four people in their 40s said they find themselves with less than an hour to themselves in an average day – and one in five don’t spend time on their financial wellbeing.

The results indicate that financial responsibilities peak at age 45, when many people still have mortgages to pay and children living at home.

Unpaid family responsibilities, on the other hand, tend to become more common from the age of 58.

Those caring for adult children spend an average of £247 a month on this, while midwives providing financial support to a parent or elderly relative spend an average of £282 a month, on top of their own household expenses, according to the research.

The average time taken up by unpaid care work is equivalent to part-time work, almost 15 hours per week.

The study was commissioned to support the launch of Legal & General’s Midlife MOT course created in partnership with the Open University. The course is available free online.

Emma Byron, Managing Director, Legal & General Retirement Solutions, said: “Mature people are facing a challenging environment with rising inflation and rising energy bills, putting added pressure on an age group that is already juggling several headwinds.

Over 4,000 people aged between 40 and 60 were interviewed across the UK.

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