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A rewarding retirement: notes from an assembly of older BME people
- Author:
- MAWHINNEY Phil
- Journal article citation:
- Runnymede Bulletin, 368, Winter 2011, pp.9-10.
- Publisher:
- Runnymede Trust
As part of a 3-year programme of research into financial inclusion and older BME people, Runnymede brought together 50 older people from a range of ethnic backgrounds to share their knowledge and concerns on retirement. This article provides an overview of some of the issues, which include: poverty; the issue of not being eligible for a full state pension when returning to their country of birth on retirement; and the concern felt for younger generations facing high rates of unemployment.
Future older generations will be more ethnically diverse
- Author:
- MAWHINNEY Phil
- Journal article citation:
- Runnymede Bulletin, 363, Autumn 2010, pp.18-19.
- Publisher:
- Runnymede Trust
Summarises some of the findings of Runnymede's latest financial inclusion research programme which focuses on older people. It looks at an increasing diverse older population, the costs of 'returning home' and the implications of retiring abroad.
The costs of 'returning home': retirement migration and financial inclusion
- Authors:
- KHAN Omar, MAWHINNEY Phil
- Publisher:
- Runnymede Trust
- Publication year:
- 2010
- Pagination:
- 29p., bibliog.
- Place of publication:
- London
This report considers the conditions facing older migrants who may wish to ‘return’ to their country of birth for retirement. It primarily considers the experience of black and minority ethnic (BME) people and the financial considerations and hidden costs that these potential ‘return migrants’ face. The report discusses pensions-indexing and housing factors, such as the affordability of housing. It then discusses tax and social security arrangements between the UK and other countries, the affordability and quality of health care, and differences in the standard-of-living and climate. It identifies pension uprating as a key issue. For those who retire in the UK or to Europe, pensions are automatically uprated in line with the cost of living. However, many others who have contributed to their state pension for over 40 years will find that once they move abroad their pensions are frozen for the duration of their retirement. The report urges the government to upgrade all state pensions to respond to this inconsistency and lack of equality in pensions upgrading.