The findings come from insurer AXA, which also said 22% of those over the age of 65 suffered a lack of concentration and 24% were losing sleep because of stress about their financial situations.
Stress caused by money concerns, dubbed Money Sickness Syndrome, has reached epidemic proportions across all sectors of the nation, with an estimated 42 million adults of all ages suffering from the syndrome.
This is double the number of sufferers of four years ago, when the syndrome was first identified by GP and mental health expert Dr Roger Henderson.
AXA’s latest research revealed that pensioners emerged as among the worst affected, with three-quarters admitting to feeling stressed about their finances - particularly about the cost of living - over the past 12 months and well over half saying their stress had worsened in that time.
About 60% of pensioners blamed the high cost of living for their woes compared to 40% of high-level managers and around 50% of manual workers. Pensioners also believe cost of living will remain the key factor driving their money worries over the next 12 months.
AXA said pensioners were among the least likely to have taken any practical action to get out of their financial fix.
While 36% of pensioners have taken some practical steps to take control of their finances just over a third of pensioners have done nothing at all to help deal with their stress.
The report shows that only 5% of pensioners sought the help of an independent financial adviser, while about 1.5% visited a debt counsellor.
Eugene Farrell, head of psychological health and wellbeing at AXA, said: “Pensioners today have a lot to contend with. And while it's no surprise to find money worries are a concern for them, it is deeply worrying that it is affecting their health in such a way.
“As an aging population, such financial and health issues are a major concern for us as nation and the consequences are likely to only get worse in the years to come. Central to dealing with Money Sickness Syndrome is to have a plan of action that not only reduces the burden of debt but in doing so helps to reduce the physical and psychological symptoms.”
