Debt and older people

Traditionally debt has been seen as mainly a concern for younger people with older people more likely to believe you should ‘cut your coat according to your cloth’ and save up for items rather than use credit. However there have been media reports suggesting this may be changing with headlines such as ‘Debt crisis for the over 60s’, and some information and advice services are reporting more older people seeking help with debts.

440x210_tracing_lost_moneyAt Age UK we wanted to find out more about the extent and level of debt in later life and whether this has changed over time. So we commissioned the independent think tank International Longevity Centre – UK (ILC-UK) to carry out a detailed analysis looking at debt among people in later life. Continue reading “Debt and older people”

Let’s Talk Money

Welfare reform and the benefits system have been high on the news agenda recently, but an often overlooked issue is the persistent problem of pensioner poverty. With 1.7m pensioners (14%) currently living in poverty, and £5.5bn pounds of benefits left unclaimed by pensioners, Age UK has re-launched its Let’s Talk Money campaign.

Screen Shot 2013-04-29 at 13.42.31A significant amount of research highlights that there are many reasons why older people aren’t claiming the benefits that they are entitled to – from a perception that the application process is too complicated, to the belief that they don’t qualify.

With so many people slipping through the net, Age UK aims to challenge the myths around eligibility, and encourage older people to claim the benefits that they are entitled to so that they can make the most of later life.

The campaign continues to focus on encouraging older people to claim the benefits they are entitled to, such as Pension Credit, Housing Benefit and Attendance Allowance.

People on low incomes can use the extra money that benefits provide to pay for utility bills, broken appliances or some much needed help around the house – removing financial stress that is a burden for so many. Continue reading “Let’s Talk Money”