More than half of grandparents in the UK have found themselves subsidising two generations of family in the last six months, according to new research.
The 3GB study by Engage Mutual found a third of elderly relatives had helped out with their offspring's home costs and 35 per cent had given financial support to family members with personal debt.
According to Engage Mutual, the average amount of debt relief provided by grandparents in the past six months was £1,800 and the 28 per cent who helped their children with child costs spent an average of £454.
Karl Elliott, 3GB spokesperson for Engage Mutual, said: "With rising living costs and debt repayments taking effect, the findings show that the majority of grandparents in Great Britain have had to help their families with everyday living costs in the past six months."
Meanwhile, research by Ageon showed that less than a third of people reaching retirement age intend to stop working altogether.
