Scottish Widows: Post-lockdown financial wellbeing boost fading

Improved job security and income slowing the fade in third quarter

clock • 2 min read

The post-lockdown boost to Brits’ financial wellbeing has begun to fade, with many households returning to pessimistic outlooks, according to Scottish Widows.

Research from the insurer has found the post-lockdown boost trailed off in the third quarter, despite gains to household income. The Scottish Widows Household Finance Index dipped from 44.7 in the second quarter to 44.0 in the third. However, the pace at which this fell was at a slower rate than at any other time during the start of the pandemic, as a result of improved job security and income. It also revealed the recent return to work has sparked the first income rise since Q1 2020. However, households have also adopted renewed pessimism with regards to their financial outlook...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Insurer

Iress adds Zurich to The Exchange platform

Iress adds Zurich to The Exchange platform

Adopts ex-smoker questions

Jaskeet Briah
clock 24 October 2024 • 1 min read
IFoA names new CEO

IFoA names new CEO

Paul Lewis to take position

Jaskeet Briah
clock 18 October 2024 • 1 min read
L&G updates leadership team

L&G updates leadership team

Laura Mason and Katie Worgan added

Cameron Roberts
clock 16 October 2024 • 2 min read