EXPERTS in retirement finances are offering free support to people with their work, wealth and wellbeing.

Legal & General's Midlife MOT educational course has been created with The Open University (OU) to support 40 to 60-year-olds by giving them the tools and knowledge to approach life with confidence.

More than six million people in that age group are providing financial support or unpaid care to at least one loved one, on top of their job and other family commitments.

The support required of people in midlife has a significant impact on their lives, effecting their own work, wealth and wellbeing.

Two out of five people in this group feel overwhelmed by their commitments on at least a weekly basis, while 800,000 people have left work in the last 18 months due to family commitments.

Many midlifers feel the amount of money and time they provide to their loved ones is unsustainable, but many know their loved ones would not be able to support themselves without it.

These pressures result in midlifers making personal sacrifices. One in four people in midlife gets less than an hour to themselves in a day and one in five spend no time on improving their financial wellbeing, which could affect retirement plans.

The impact of Covid, and the cost-of-living crisis has brought these challenges and the need for more support around work, wealth and wellbeing into even sharper focus.

This has been recognised by the DWP which has given a £400,000 funding boost for Midlife MOTs, to help people take stock of their health, skills and wealth as part of later-life planning.

Emma Byron, managing director, Legal & General Retirement Solutions, said: "We know that midlife is a time when many people are facing complex challenges, unique to their age group; wondering about the next stage in their career, juggling support for family members young and old and thinking about how to fund retirement.

"That’s why at Legal & General, we have created a Midlife MOT course. The positive response to our pilot shows it’s a timely exercise for many and one that will allow those in midlife to have confidence in the next stage of their life."