Action on money
The pressures on older people’s finances have increased significantly over the last few years, leaving several million pensioners now living in poverty – many facing the tough choice of heating or eating, while huge numbers find their lives narrowed down to “just getting by”.
Many are being compelled to either delay their retirement or return to work to make ends meet, as pension incomes diminish and the cost-of-living crisis bites. A whole cohort of women have found themselves unexpectedly facing more years of work despite living with poor health, after their State Retirement Age was pushed out to 67.
In this Action Area we’ll look to address some of the bigger issues facing older people, as well as providing helpful information and objective advice from our members on topics including:
- Pensions, benefits and savings
- Paying for care
- Grants, benefits and other forms of support
- Utility costs
- Wills and LPAs
- Planning for retirement
We also plan to develop a suite of downloadable resources that can be shared.
Critically, we hope to inform service suppliers and policy makers of the evolving and often complex needs of older people – informed by their lived experiences – through surveys, focus groups and research.
Get involved
If you want to contribute to this action area, either in the form of news, comment, information or advice, do please get in touch by emailing info@theageactionalliance.org
The Age Action Alliance is supported by
Latest News
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“Urgent action” needed as 1.9m older people in poverty
Independent Age has said that the UK Government’s figures show that “later life poverty is a massive issue that needs tackling”
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Government’s spring statement “risks abandoning older people”
Hourglass is concerned that the welfare cuts, including a tightening of eligibility for benefits such as PIP, may leave “thousands of older and vulnerable people behind”.
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Online services “making life harder” for third of over 60s
New research by Age UK has revealed that 1 in 3 (31%) over 60s – equivalent to 5.1 million say life is much harder compared to five years ago because the things they want to do are online.
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Older people face 450 questions to receive financial support
A new report from Independent Age highlights long and complex application forms for pensioner entitlements
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Age UK: Many older women experience glaring inequalities
More than one third of women aged 50+ (36%) 4.1 million in England have experienced discrimination on the grounds of their age, sex or race.
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New report predicts surge in number of older people living in water poverty
Independent Age is calling on the UK Government to introduce a single social tariff in England and Wales to end water postcode lottery
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“Going to bed earlier and turning the heating off”
Older people across the country are planning to drastically cut back on heating their homes this winter due to losing the Winter Fuel Payment, accordoing to new polling from Independent Age.
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Low literacy and numeracy skills a barrier to support for millions of older people
New research from Learning and Work Institute, supported by Age UK, reveals an estimated six million people over 50 have difficulties with maths and six million have difficulties with reading.
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Winter Fuel Payment: new research shows impact of the change on older people
49% of older people in England who will lose their Winter Fuel Payment said they were planning to only heat and spend time in one room. 20% were already planning to do this but now an additional 29% said they will resort to this measure because of the change.
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Poverty making older Londoners “feel hopeless”
During London Challenge Poverty Week (14-20 October) Age UK London is highlighting the pressing issue of poverty amongst older Londoners.
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Online scams cost us more than money
New data shows online scams cost older people an average of £4,000: but financial loss is only part of the story.
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£2.1m grants fund to help older women from racially minoritised groups
Independent Age has launched its latest grants fund – the Older People’s Fund. The first round will award £2.1 million to organisations that provide support to older women from racially minoritised groups.
Latest blogs & comments
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Power of Attorney: 10 tips for the delicate discussion
Leading dementia expert Professor June Andrews has some helpful advice for anyone who has been putting off one of the most important decisions we can make…
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Tax needn’t be taxing with online Self Assessment
If you are self-employed, or are retired and have an income that is not taxed at source… and are reasonably digitally savvy… then here is HMRC’s advice on doing your income tax returns on line.
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Are you owed some of “Britain’s missing billions”?
Did you know that an estimated £89 billion is currently going unclaimed in some 28 million forgotten bank and savings accounts, premium bonds, pensions, insurance policies and Child Trust Funds? But how do you go about checking one of them is yours or a relative’s?
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Older people take their demand for a Commissioner to Downing Street
Campaigners have taken their calls for the creation of a Commissioner for Older People and Ageing in England to the heart of Westminster.
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WASPI: justice will have to wait… again
Grenfell, Windrush, subpostmasters, the blood transfusion scandal, Dilnot… the latest delay in implementing the Ombudsman’s report on WASPI women is just one more examplar, writes Tony Watts OBE, of the tactics routinely used by Government to put off rectifying historic wrongs or fulfilling promises made – many involving older people who may never live to…
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Pensions Freedom 10 years on: who have been the winners… and losers?
This March marked the tenth anniversary of the announcement of “Pension Freedom and Choice” reforms which, along with Auto-Enrolment, represented the two major shifts in pension policy enacted under George Osborne. What have been the long-term impacts for savers? asks Tony Watts OBE.
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New data lifts the lid on retirement income trends
What is the average income in retirement for today’s retirees… where is the income coming from, which regions are doing best and what trends can we see emerging? New data from the ONS reveals all, writes Richard Collinson, CEO of AAA members RetireEasy.co.uk
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Securing your retirement finances could mean being flexible at work
Being able to work for as long as you need in order to secure a financially secure retirement could become a lot easier after new employment laws come into force in April, writes Tony Watts OBE. But it will require flexibility from employers as well as employees.
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Big increases in how much you will need for retirement
New figures released by the Pensions and Lifetime Savings Association (PLSA) show that the amount we need to save for our retirement has shot up in the last year. Richard Collinson, CEO of Retire Easy, runs the rule on the sums… and explains how to find out if you are on track.
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Make sure you top up your State Pension while you can!
Unsure if you’re on course to receive a full State Pension when you retire? Confused by whether or not it would be worth buying top-ups to fill any gaps? Then, says Richard Collinson, CEO of AAA members RetireEasy, read on.
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Dementia: what legal and financial planning should I consider?
From whether you should be paying for care through to sorting out an LPA, Professor June Andrews looks at some of the key things to consider if you or a loved one have dementia.
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A unique way to pay for residential care… without selling your home
Every year, thousands of elderly people and their families face the conundrum of how to pay for care home fees – which can typically be between £40,000 and £50,000 a year. We talk to Jeremy Nixey of Alliance member Shaw Lifetime Care, part of the charitable Shaw Foundation, about the unique option they offer.