The Chancellor of the Exchequer George Osborne
George Osborne’s 8th Budget was presented as a ‘budget for the next generation’ acknowledging the hopeless situation too many young people find themselves in: struggling to find work, or being in work but struggling to earn enough to cover the daily costs of living. For these young people saving for a home is a priority that often feels like an unattainable ambition, so finding some spare money to put into a pension becomes an almost laughable pipe dream. Continue reading
Posted in Budget, Government, Money Matters, Pensions
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, budget 2016, Lifetime ISA, older people, pensioner poverty, workplace pensions
Photo credit: Philip Taylor (Flickr Creative Commons)
This week’s blog from our General Election Series looks at why ensuring that everyone in later life has enough money is a key part of our ambition for the next Parliament.
While Age UK celebrates the fact that being older is no longer synonymous with being poor, sadly this is still the reality for too many. That is why ensuring that people have enough money is a key part of Age UK’s ambition for the next Parliament and the first of our blogs looking at our five priorities.
There are still 1.6 million older people living in poverty and many others living just above the poverty line. We know this can’t be changed overnight but we believe all politicians should commit to at least halving the numbers in poverty by the end of the next Parliament.
We have highlighted two ways to help achieve this. Firstly let’s ensure there is a decent State Pension that recognises years of work and caring. The full amount of the new State Pension being introduced on 6 April 2016 will be more than £150 a week and will provide a boost for many low earners and women who have spent many years caring or in part-time low paid work. Continue reading
Posted in Campaigning, General, General Election 2015, Government, Income, Money Matters, Pensions
Tagged #GeneralElection2015, #votelaterlife, A great place to grow older, a great place to grow older Age UK, Age UK, Age UK blog, Age UK General Election campaign, Ageing, ageing population, ageing society, Incomes, money matters, older people, pensioner poverty
Before getting help from Age UK County Durham, Lily, 88, was having to make painful sacrifices every day due to her limited income. This meant going to bed early just to stay warm because she couldn’t afford to put the heating on.
Last week we launched our End Pensioner Poverty campaign. Joanne Sawyer, Equality and Human Rights Policy Adviser, looks at how the issue of pensioner poverty relates to human rights in the UK.
Today in the UK, 1.6 million older people live in poverty, of whom 900,000 are living in severe poverty. Whilst the number of pensioners living on a low income has fallen considerably in recent years, progress has now stalled and pensioner poverty levels have stayed the same. In practice, this means constant financial worries for some older people and struggles to afford basic essentials like fresh food, warm clothes, and heating during the winter.
This unequal situation persists despite the right of everyone in the UK to an adequate standard of living which includes “adequate food, clothing and housing”, whatever their age and whatever their background. The General Assembly of the UN has stated that “older persons should have access to adequate food, water, shelter, clothing and health care through the provision of income, family and community support and self-help”. Continue reading
This blog was contributed by Hannah Pearce, Age UK’s joint Head of Public Affairs.
Every few years the government announces its intention to fundamentally reform the pension system once and for all to ensure it is fair and sustainable for current and future generations. Each of these attempts is made with good intentions and with the hope that the changes will last. However a few years down the line the next government decides it’s time to try again. I’m already working on my fourth pension bill since beginning work for Age UK.
Successive governments are compelled to grapple with the pensions system to catch up with societal changes such as increases in life expectancy, changes in working patterns and to counter structural unfairness. For example several of the state pension reforms in the 2007 Pensions Act sought to ensure that the pension system better reflected the lives of women who often have some time out of employment caring for children, older family members, or working part time.
The compelling reasons for reform under the current proposals were to create a system which is intended to be fairer, simpler and more sustainable. Under the single tier system individuals will receive a state pension based on their own contribution record of up to £146 in today’s money if they have a full record of 35 years contributions. Continue reading
Posted in Government, Money Matters
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, Government, Hannah Pearce Age UK, money and benefits, money matters, older people, pension changes, pensioner poverty, pensions, Pensions Bill, Pensions Bill 2nd Reading, Pensions Bill Second Reading, retirement, Single-tier pension, state pension, State pension reform