Policy

Older people's need for financial information and advice

A third of the population is over 50‚ and a sixth is over 65. However‚ so far much of the debate around financial capability and generic advice has concentrated on the needs of younger people.

It is certainly important to help younger people manage their money so that they arrive at retirement having made best use of their years of earning. Yet people who are making the transition to retirement‚ or already retired‚ face an equally major challenge – that of making the money last.

Our research shows that they generally cope‚ but that financial information and advice could help them manage better‚ and might avert crises later in life.

This report looks at the needs of people over 50 for financial information and advice‚ and how these needs might be met‚ drawing on the experience of Age Concern organisations working in the community and recent research covering pensioners on middle incomes (that is‚ the middle three quintiles of income as defined by the Pensioners’ Income Series published by the Department for Work and Pensions).

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Download this report below.

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