Last Updated: February 9, 2026
Family carers aged 45-75 lose out on £6,000 of income a year due to their caring responsibilities causing them to cut back on their working hours.
Nearly 4 in 10 adults aged 45-75, referred to as the ‘sandwich generation’, taking care of elderly relatives have either stopped working or are working reduced hours to provide support. On average, these carers are losing out of £522 a month or £6,268 a year. Carers are also funding regular expenses out-of-pocket amounting to roughly £100 a month.
New research from retirement specialist Just Group on the lives of family carers aged 45-75 has uncovered the loss of income they face in order for them to continue in their caring role.
The data shows that among carers of elderly relatives, 9% have stopped work entirely and 28% have reduced their working hours in order to provide the support that their elderly relatives requires. These figures increase when looking at individuals who are the sole carer for these relatives, with 14% leaving the workforce and 33% cutting their hours.
Many carers are suffering from significant cuts to their regular monthly income as a result of having to reduce their working hours to provide care. The average monthly cost is £522 which equates to a yearly reduction of £6,268. Around one in seven (14%) of respondents said their monthly income had reduced by more than £1,000 a month due to providing care.
Out-of-pocket expenses resulting from caring responsibilities, such as travel costs or grocery shopping, are another pressure on the finances of unpaid carers. Insight from Just Group’s research shows that these hidden costs add up to an average of £100 per month, with 11% of carers spending over £200 each month.
Emma Walker, Director at the retirement specialist Just Group, said, ‘We’re familiar with the physical and mental toll the ‘sandwich generation’ face as they are squeezed between work, supporting children and caring for ageing parents. What isn’t thought about so often is the financial and professional price this generation pay for caring.
‘Many scale back their working hours and some leave the workforce altogether in order to meet their caring commitments – with the knock-on effect that, on average, their income is reduced by hundreds of pounds every month. This often coincides with the period in their careers when people reach their peak-earning potential, a point at which many may have planned to use spare income to build up pension pots and pay off the mortgage.
‘Of course, many carers are glad to be able to take care of their family and don’t count the cost. But it’s important that people don’t overlook the impact stepping away from work can have on their financial future.’
In other news, new national data has been released showing that Shared Lives continues to grow across the UK despite pressures on adult social care.
