Unpaid carers may be missing out on over £2,000 each year due to the costs of caring – even with the additional benefit of receiving Carer’s Allowance.
Informal carers across the UK are being left out of pocket by an average of £207 each month, according to new data.
As the cost of living crisis continues, many people are struggling to keep up with rising costs.
Carers are one of the vulnerable groups who are feeling a squeeze on their finances as they also have to consider the costs of caring.
Their support, coupled with the responsibilities of often working full-time and juggling additional commitments are taking their toll on unpaid carers.
They are now facing a significant financial burden coupled with mental health worries, research suggested.
The research – conducted by later living marketplace Lottie – highlights the everyday struggles experienced by informal carers, who provide vital care to their loved ones, alongside employment and other life commitments.
According to Lottie’s new research, the average unpaid carer is missing out on the equivalent of £2,494 a year due to the costs of caring – even with the additional benefit of receiving Carer’s Allowance.
This includes expenses like travel, household bills, and any equipment needed, which can quickly add up and take its toll, both financially and emotionally.
In 2021, there were almost 1.2 million unpaid carers aged 65 years and over in England and Wales, (just over one in 10 of the older population) with almost half of these providing more than 50 hours of unpaid care a week.
Unpaid carers also provide £193billion of the UK’s social care system each year and are a fundamental part of the UK’s healthcare system.
Lottie co-founder Chris Donnelly said: “All too often, the work of informal carers across the country goes unnoticed and unrewarded.
“Carers – whether paid or unpaid – make an enormous contribution to society and provide invaluable support for their loved ones.
“We are calling on the Government to better support carers across the country, alongside employers, who can do more to support their employees.
“There must be changes to the UK’s benefits system to make it easier for carers to access financial assistance, and greater investment in social care to relieve the financial and emotional pressure on informal carers.
“From flexible working hours and paid time off for anyone with caring responsibilities, it is time for employers to step up and recognise the care crisis that’s facing their workforce.”
Alongside Lottie’s new research on the financial burden of being an informal carer, there has been a surge of online searches from carers who are feeling trapped, burnt out, and stressed with their new responsibilities.
“Carers are at a much higher risk of experiencing mental health worries – including burnout, stress, and anxiety – as they don’t prioritise their own needs. We urgently need a solution that eases the financial and emotional pressures on carers.”
Carer’s Allowance is a benefit distributed by the Department for Work and Pensions (DWP) and is worth up to £3,991 a year, providing a significant boost to a person’s monthly income.
With inflation rates still standing in double digits at 10.1 percent and adding significant pressure to household finances, it could be worth people checking if they’d benefit from Carer’s Allowance.
Carer’s Allowance is paid at £76.75 a week, which amounts to around £332 a month and people can choose if they’d like it paid weekly in advance or every four weeks.
To be eligible for Carer’s Allowance, claimants must first be 16 or over and spend at least 35 hours a week caring for someone who receives the following means-tested benefits:
- Personal Independence Payment (PIP) – daily living component
- Disability Living Allowance (DLA) – the middle or highest care rate
- Attendance Allowance
- Constant Attendance Allowance at or above the normal maximum rate with an Industrial Injuries Disablement Benefit
- Constant Attendance Allowance at the basic (full day) rate with a War Disablement Pension
- Armed Forces Independence Payment
- Child Disability Payment – the middle or highest care rate
- Adult Disability Payment – daily living component.
Express.co.uk has contacted the DWP for comment.
