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UK workers not prepared for illness or injury


Over half of workers in the UK believe that their savings would not last them more than three months if they lost their job due to illness or injury.

Research conducted by YouGov has found that a large number of workers have not put safeguards in place to protect themselves if they were to lose their job. 53% of those asked believed they would have to depend on the state for any source of income if they were absent from work for more than three months.

The law states that workers who are off with sickness or injury for more than four days in a row are entitled to a minimum of £88.45 through Statutory Sick Pay which is paid for 28 weeks by the employer. After the 28 weeks, a person would have to make a claim for Employment and Support Allowance. This would pay them a maximum of £109.03 a week. With the average person’s weekly earnings in the UK standing at £488 , this would be a massive difference in income and could have a substantial effect on a persons life.

2.5 million people in the UK have been unable to work for three months of more. Many people who think it will “never happen to them” are at risk of losing a massive part of their income if they do not have savings or a financial product in place to protect their income.

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