This briefing looks at levels of pensioner poverty in the UK, changes over time, groups at greatest risk and considers what life is like for older people living on a low income. Key points include: although poverty levels are lower than they were 20 years ago, the latest figures show 2.1 million (18 per cent) of pensioners in the UK live in poverty; rates have risen since 2013-14 when 1.6 million (14 per cent) lived in poverty; some groups are at particular risk – 38 per cent of private tenants and 36 per cent of social rented sector tenants, live in poverty compared to 14 per cent of older people who own their home outright and 33 per cent of Asian or Asian British pensioners and 30 per cent of Black or Black British pensioners, are in poverty compared to 16 per cent of White pensioners; financial disadvantage is not just about income coming in – it is harder to manage on a modest income when people have extra costs, for example due to disability or care needs or if heating bills are high because they live in a cold, poorly insulated home; the Government should set out a clear reform programme, in partnership with third sector organisations and others, to abolish poverty in later life; in an ideal world, the State Pension system should provide an income sufficient to cover basic needs, and everyone would have opportunities to build up additional private incomes which would allow a comfortable retirement; however, there is a long way to go to achieve this aim and, in the meantime, far more needs to be done to increase the take-up of benefit entitlements.
(Edited publisher abstract)
This briefing looks at levels of pensioner poverty in the UK, changes over time, groups at greatest risk and considers what life is like for older people living on a low income. Key points include: although poverty levels are lower than they were 20 years ago, the latest figures show 2.1 million (18 per cent) of pensioners in the UK live in poverty; rates have risen since 2013-14 when 1.6 million (14 per cent) lived in poverty; some groups are at particular risk – 38 per cent of private tenants and 36 per cent of social rented sector tenants, live in poverty compared to 14 per cent of older people who own their home outright and 33 per cent of Asian or Asian British pensioners and 30 per cent of Black or Black British pensioners, are in poverty compared to 16 per cent of White pensioners; financial disadvantage is not just about income coming in – it is harder to manage on a modest income when people have extra costs, for example due to disability or care needs or if heating bills are high because they live in a cold, poorly insulated home; the Government should set out a clear reform programme, in partnership with third sector organisations and others, to abolish poverty in later life; in an ideal world, the State Pension system should provide an income sufficient to cover basic needs, and everyone would have opportunities to build up additional private incomes which would allow a comfortable retirement; however, there is a long way to go to achieve this aim and, in the meantime, far more needs to be done to increase the take-up of benefit entitlements.
(Edited publisher abstract)
This report brings together all of the findings of the Age UK Financial Services Commission, which examined how the financial resilience of older people can be improved, and sets them in the context of the government’s proposed pension reforms. Financial resilience is defined as a mixture of not just financial but also health, social and personal resources that enable older people to thrive over the entire course of their later life and the ability to adapt plans or change arrangements, in response to both changing personal circumstances and wider economic conditions. The first half of this report summarises the emerging themes of the Commission, including decision making and staying in control in older age, and the second half sets out Age UK’s recommendations in relation to the access to good quality information, advice and guidance throughout later life, the offer of financial products and building trust.
(Edited publisher abstract)
This report brings together all of the findings of the Age UK Financial Services Commission, which examined how the financial resilience of older people can be improved, and sets them in the context of the government’s proposed pension reforms. Financial resilience is defined as a mixture of not just financial but also health, social and personal resources that enable older people to thrive over the entire course of their later life and the ability to adapt plans or change arrangements, in response to both changing personal circumstances and wider economic conditions. The first half of this report summarises the emerging themes of the Commission, including decision making and staying in control in older age, and the second half sets out Age UK’s recommendations in relation to the access to good quality information, advice and guidance throughout later life, the offer of financial products and building trust.
(Edited publisher abstract)
Subject terms:
older people, financial management, personal finance, advice services, resilience, pensions;
Sets out what Age UK would like to see in the Autumn Statement 2016, focusing on the role of public infrastructure in supporting independence; the role of the private sector; health and care; housing; energy efficiency; adequate incomes for current and future pensioners; the digital economy; integrated transport services; and cross-disciplinary research into ageing. The paper argues that the Government must prioritise a proper, coordinated approach to health and care policy, including recognition of the contribution of people who are paying for their own care, building in flexibility across the system so that savings in one sector (NHS) can be shared across the other (social care). It suggests that the need for an immediate, and significant injection of funding into social care is now inescapable and argues that it may also be possible to use infrastructure spending to relieve the pressure on health and care services, for example by looking afresh at new models of housing, integrated transport services and better use of the existing NHS estate. In addition, the paper contends that Local Government must be supported to provide the local infrastructure network that will enable an ageing population to remain independent.
(Edited publisher abstract)
Sets out what Age UK would like to see in the Autumn Statement 2016, focusing on the role of public infrastructure in supporting independence; the role of the private sector; health and care; housing; energy efficiency; adequate incomes for current and future pensioners; the digital economy; integrated transport services; and cross-disciplinary research into ageing. The paper argues that the Government must prioritise a proper, coordinated approach to health and care policy, including recognition of the contribution of people who are paying for their own care, building in flexibility across the system so that savings in one sector (NHS) can be shared across the other (social care). It suggests that the need for an immediate, and significant injection of funding into social care is now inescapable and argues that it may also be possible to use infrastructure spending to relieve the pressure on health and care services, for example by looking afresh at new models of housing, integrated transport services and better use of the existing NHS estate. In addition, the paper contends that Local Government must be supported to provide the local infrastructure network that will enable an ageing population to remain independent.
(Edited publisher abstract)
Subject terms:
older people, policy formulation, independence, integrated care, housing, transport, digital technology, public expenditure, pensions;
The purpose of this paper is to discuss the social policies that are likely to be most beneficial to older people living in the Red Wall – the Midlands and North of England, which are traditionally viewed as safe for Labour and where the Conservative Party won a swathe of Parliamentary seats in the last General Election. The paper looks at the data concerning older people who live in these constituencies and sets out three key messages: 1) The NHS really matters – both life expectancy and healthy life expectancy are lower than the national average and as a result, older people living in the Red Wall spend more years and a greater proportion of their life in poor health and managing disability; 2) Fixing social care is essential – across England only around half of older people who need help with essential day to day tasks get enough help but that figure drops markedly to just 33 per cent and 38 per cent respectively in the North East and North West; 3) The state pension and other forms of financial support for pensioners really matter, and they have less housing wealth – the fact that incomes in many parts of the Red Wall are lower than the national average holds true for pensioners as well as working age households. The paper also looks at the kinds of policies that might ‘fit’ with these three key messages so far as older people living in the Red Wall are concerned – and others with similar characteristics right across England.
(Edited publisher abstract)
The purpose of this paper is to discuss the social policies that are likely to be most beneficial to older people living in the Red Wall – the Midlands and North of England, which are traditionally viewed as safe for Labour and where the Conservative Party won a swathe of Parliamentary seats in the last General Election. The paper looks at the data concerning older people who live in these constituencies and sets out three key messages: 1) The NHS really matters – both life expectancy and healthy life expectancy are lower than the national average and as a result, older people living in the Red Wall spend more years and a greater proportion of their life in poor health and managing disability; 2) Fixing social care is essential – across England only around half of older people who need help with essential day to day tasks get enough help but that figure drops markedly to just 33 per cent and 38 per cent respectively in the North East and North West; 3) The state pension and other forms of financial support for pensioners really matter, and they have less housing wealth – the fact that incomes in many parts of the Red Wall are lower than the national average holds true for pensioners as well as working age households. The paper also looks at the kinds of policies that might ‘fit’ with these three key messages so far as older people living in the Red Wall are concerned – and others with similar characteristics right across England.
(Edited publisher abstract)
Subject terms:
older people, policy, government policy, adult social care, health care, pensions, user views, access to services, inequalities, health inequalities, service development;