Amidst all the terrible weather the recent 60th anniversary of the 1953 floods passed without much comment.
Yet on the night of 4 February 1953, a huge storm surge struck the east coast. In places the sea came 2 miles inland. 307 people were killed, including many families who died in their homes.
There was no warning and it was Britain’s worst peacetime disaster.
One of the most famous rescues was of a Miss Fowler, aged 84, of Canvey Island, Essex, with her 82 year old brother. You can see a photo of them here but they had to spend nearly 4 days without food, light or heat before help finally arrived.
Today, this is the situation we most fear at Age UK: frail older people marooned in flooded homes, accidentally overlooked and left to suffer alone. However, so far it seems that vulnerable older people have been identified and offered the emergency relief they need, and in a timely fashion. Thank goodness.
This guest blog was contributed by Laurence Baxter, Head of Policy and Research at the Chartered Insurance Institute (CII)
Having looked at the next generation of pensioners in the first roundtable entitled Is it too late to save, the Age UK Financial Services Commission then turned its attention on 6 February to the early to middle years of retirement. Hosted by Mercer, leaders from across the financial services industry debated a number of hot topics which are summarised below.
Managing early retirement while considering the longer term
Individuals in the first decade of retirement face the potential for economic, lifestyle and health shocks, underlying the importance of financial resilience for this group. One complexity was the different types of pension pots people have as a result of multiple employers. There is the transition from Defined Benefit to Defined Contribution, so some of pension pots will be final salary schemes while others are money-purchase. Changing patterns of retirement from a single watershed event to more of a process will also be significant.
While early retirement is not without its bends in the road, people in this group still need to be mindful of issues that could arise later in life such as long-term care and how or whether they use home equity.