National IFA LEBC is calling for technology to help older vulnerable clients handle their finances if their partner becomes critically ill or passes away.
LEBC says there is a need to promote financial capability in older couples and it has been shortlisted for an award where it could win the backing of a tech provider to deliver a new digital service for older couples.
LEBC director of public policy, Kay Ingram says a lack of confidence in financial matters feeds into the gender pensions gap, leaving clients vulnerable if their partner is to pass away.
Ingram says: “We challenge the tech sector to identify solutions that encourage wider engagement around financial matters. We need to find a way for both partners to be informed and engaged in decision making so that this aspect of their affairs can be handled with more confidence at a time of stress.”
LEBC will work with an assigned tech provider to release a solution in October if successful.