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Summary
An analysis using the third wave of Understanding Society Using data from the UK’s largest social survey, Understanding Society, new research reveals that people who are struggling to manage their finances in old age have eight times the odds of having reduced levels of mental wellbeing. The new evidence is published today in a working paper published by the Personal Finance Research Centre (PFRC) at the University of Bristol and the International Longevity Centre UK (ILC-UK). The research has been produced as part of the ILC-UK and PFRC project on “financial wellbeing in older age” funded by the ESRC’s Secondary Data Analysis Initiative.