Unemployment and budgeting advice main reasons why members approach CILEx Benevolent Fund
Unemployment and budgeting advice are main reasons why members approach CILEx Benevolent Fund, new research shows
15 February 2018New research has revealed that four out of five applications to CILEx Benevolent Fund result either from job loss or issues surrounding budgeting.
The fund also receives a significant number of applications each year from bereaved members, as well as those dealing with divorce or separation following a relationship breakdown. To help CILEx members affected by these issues, the fund offers access to tailored debt management advice and provides grants to those experiencing one-off instances of extreme financial hardship, which are assessed on an individual basis.
Simon Wells, a lay trustee and the chairperson of CILEx Benevolent Fund, said: ‘Anyone’s personal circumstances can change overnight for a variety of reasons, and those who contact us are drawn from all walks of life and ethnic backgrounds.
‘There should be no embarrassment in asking for help. CILEx Benevolent Fund was established to offer support and guidance for CILEx members in times of need and, if you find yourself in this position, we are here to help.’
Recently released figures for 2017 reveal that slightly more CILEx members applied to the fund for assistance as a direct result of unemployment (44%) than did because of living beyond their means (38%). The statistics also show that six per cent of all contacts were from those suffering the loss of a loved one, while six per cent were from members seeking financial advice or support following the breakdown of a relationship. The final six per cent of all contacts – classed as ‘other’ – encompass a range of other reasons for members finding themselves in debt.
Simon Wells added: ‘By appraising the contacts for support we received in 2017, we believe that we can ensure we are best placed to help members, in the most appropriate way, in 2018.‘Our specially trained advisers provide bespoke guidance based on individual need after lending a listening ear when it is needed most: examining the requirements of each person holistically to ensure that the best action plan is drawn up and implemented.’
For further information go to: www.cilex.org.uk/membership/benevolent_fund