Category: Money Matters News

As another winter approaches and high costs continue, Independent Age is warning that older people’s ability to cope this year could be further reduced as older people have already seen their savings diminish.  

Age UK has called on the Government to extend targeted support for older people on low incomes this winter.

New research for Age UK reveals almost a third (29%) of over 60s, equivalent to 4.2 million have recently cut back on food or groceries to make ends meet, rising to 40% of people aged 60+ living in a household with an income of £20k or lower.

With nearly two-thirds of over 65s shopping online, high street retailers risk losing out on significant spend if they don’t make in-person shopping more accessible and inclusive, argues ILC UK.

Almost a quarter (24%) of older Londoners are now living in poverty, according to the latest data released by Age UK London – far higher than the rest of England, where the figure is currently 19%.

A new report from Independent Age lays bare the often-hidden experiences of how pensioners facing financial hardship are being impacted by increasingly high household costs, across water, energy, broadband, and Council Tax. 

Applying Macmillan’s saying that “you’ve never had it so good” to those either in or heading towards retirement might come as a surprise to some people, but new data shows that those retiring today may well be much better off than their younger counterparts.

New figures published by Age UK show that the Energy Bills Support Scheme (EBSS) Alternative Fund, designed to give a crucial £400 to households that receive their energy supply indirectly via a landlord, site owner, or other intermediary, has completely flopped, having failed to reach almost 4 in 5 of all those eligible.

Older people from minoritised ethnic communities are being let down when it comes to escaping poverty, as language barriers, government mistrust and a lack of effective promotion of financial support stand in their way, according to new research from national charity Independent Age.