Elderly parents living in poverty

atush

I cant imagine this couple having it in a current acct gaining 3-5%, but more likely an old savings act getting less than 1%. they hardly sound internet savvy.

margaretclare

No, they are not at all internet savvy, but the point I was trying to make was: £40K does not stay at £40K if it is not being spent, and who knows where it is - we're not told. It may even be in National Savings certificates, where it might be doing better. My mother used to like National Savings. She liked buying the stamps and sticking them in a book, then exchanging the book for a certificate. This is a very old-fashioned method of savings but it worked, in rural areas where there was a post office but no bank.

atush

Lets hope for their sake they are getting a good rate, but I somehow doubt it.

And lets hope that the angry responses by some here that put the OP off coming back, doens't mean they haven't taken our advice to check on how much the father is due in SP because he is due something.