Norwich Union: 'Sandwich generation' financially troubled

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Norwich Union: 'Sandwich generation' financially troubled

Mon 16th Feb 2009

Norwich Union has released research which reveals that a generation which is expected to look after both their parents and their children financially is worried they may not have enough to do so.

The insurer found that 68 per cent of adults in the so-called Sandwich generation would like to help their parents financially but find themselves unable to do so.

One in five of those questioned said they worry about having to support both their parents and their children at the same time, with a similar number worried they won't be able to afford to send their children to university.

Dominic Fraser-Smith, a product manager for post-retirement at Norwich Union, said: "As people are living longer and having children later in life, more and more individuals are finding themselves caught in the sandwich generation trap."

Recently, Age Concern called on the government to do more to help pensioners as it claimed the credit crunch is hitting them particularly hard.

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