Older individuals have been urged to compare gas and electricity deals to make sure they are on the cheapest tariffs ahead of the winter.
According to the Payments Council, 38 per cent of those aged over 65 have not checked energy contracts in the last 12 months to make sure they are on the cheapest offers.
With over 2.5 million older people in the UK already living in fuel poverty, the organisation has therefore urged this group to take steps to ensure they are financially healthy ahead of the colder months.
However, it did note there are areas when elderly individuals are better placed than their younger counterparts, as they are more likely to have loft insulation and be aware of what energy efficiency grants are available.
Commenting on the research, head of savings at Nationwide Richard Marriott said: "Older people are particularly vulnerable during the winter as a larger proportion of their income is spent on essentials. Even a small rise in fuel costs can be a stretch too far."
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