Tag Archives: money matters

Review of State Pension Age Report

After over a year of looking at a wide range of evidence, and meeting many individuals and organisations, John Cridland’s Independent Review of the State Pension age has published its final report. John Cridland was tasked by the Government to make recommendations around a ‘fair and sustainable’ State Pension age (SPA) from 2028 onwards.

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Branch closures present banks with age-friendly design challenge

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This blog was contributed by David Steele, Policy Manager Financial Services, at Age UK 

What happens when all the banks in a town or suburb decide to close their branches? Where do people go to talk about tricky transactions or more complex services? Where do local businesses bank their cash and cheques? The UK bank branch network has shrunk by half over the last 25 years with another 2000 closures expected in the next 3-4 years, meaning that the number of stranded customers is likely to continue increasing. Continue reading

Complaining to energy suppliers

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We’ve all heard people complaining about poor service from their energy companies. We’ve all read newspaper articles about inaccurate bills and unanswered queries. We’ve all seen the hefty fines handed to companies for failing customers.   In truth, the energy sector has not covered itself in glory handling consumer complaints.

But householders do not need to grin and bear it. Legal and other changes to consumer protection offer increased support to aggrieved customers. All the major energy companies are now answerable to an Ombudsman. But to take action, the Ombudsman needs to be satisfied that the consumer has followed due process. Continue reading

Scams – time to tackle an urgent problem

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Over half (53%) of people aged 65+ believe they’ve been targeted by a scam, as revealed by an Age UK poll. This means a staggering 5.7 million people could be at risk.

And the scale of problem is probably even worse due to under-reporting – over 60% of people who received a scam didn’t report it to anyone.

Not everyone responded to attempted scams but of those who did 70% lost money. A third of older people who did respond may have lost £1,000 or more.

These alarming figures – from our new evidence review – come as new pension freedoms take effect. Many people over 55 now have access to pension savings worth tens of thousands of pounds and fraudsters will target them. Continue reading