Policy statements
Briefings
Consultation responses
Reports
Articles
Good access to suitable financial services is vitally important if older people are to make the most of their money in later life. Unfortunately many older people find themselves excluded from the full range of financial services available to other groups.
Sometimes this is the result of explicit age barriers to certain financial products, such as age limits on taking out a mortgage. Other older people find themselves excluded because they lack either the information or the skills needed to negotiate the financial services environment.
'Financial literacy' and 'financial capability' are now key concerns of both the Government and the financial services industry, but Help the Aged believes that specific attention needs to be paid to older people to ensure that they benefit from these programmes.
In this section you will find information on specific financial services, including insurance, equity release and banking. You will also find information on the broader Policy work Help the Aged is doing to promote financial literacy.
Policy statements
Financial Services (April 2007)
Help the Aged's latest policy statement on financial inclusion and older people.
Age Discrimination in Goods, Facilities and Services (August 2007)
Help the Aged policy statement summarising evidence of age discrimination in goods, facilities and services, the use of age criteria in law and policy and the case for positive action to combat discrimination on the grounds of age.
^top
Briefings
Post Office Card Account (April 2006)
Help the Aged briefing on the Post Office Card Account and the Government's announcement that the account will not be continued after 2010. ^top
Consultation responses
Ministry of Justice Consultation: Office of the Public Guardian: amendments to secondary legislation (9 March 2010)
The aim of this consultation is to address areas of legislation and policy that in practice have not worked as well as intended since the Mental Capacity Act 2005 came into force.
Response to HM Treasury Review of the Money Laundering Regulations 2007, A Call for Evidence (Part B) (December 2009)
HM Treasury is undertaking a post implementation review of the Money Laundering Regulations 2007.
HM Treasury consultation: reforming financial markets (September 2009)
In the wake of the financial crisis, HM Treasury is consulting on reforms to the regulation of financial markets.
Regulating retail banking conduct of business (February 2009)
The Help the Aged response to the Financial Services Authority consultation on retail banking conduct of business (COB) and monitoring and enforcement.
Financial Capability and the Thorensen review (April 2007)
The Help the Aged response to the Treasury's consultation on financial capability and the Thorensen review on generic advice.
Financial Inclusion (January 2006)
Help the Aged's response to the Treasury Select Committee on financial inclusion in January 2006.
Financial Inclusion (June 2005)
Help the Aged response to the Treasury's Financial Inclusion Taskforce.
^top
Reports
Your Money Matters evaluation (April 2009)
Your Money Matters is a programme offering a free, impartial money advice service for older people to improve their knowledge and confidence and help them to overcome financial problems. This report evaluates the programme, giving case studies and making recommendations.
Your Money Matters summary (April 2009)
A summary of the above evaluation.
Lost in the Money Maze (October 2008)
A toolkit which looks at how advice agencies and credit unions can help older people cope with today's financial systems, produced as part of the 'Now let's talk money campaign', which is designed to increase awareness of the products and services available to financially excluded consumers.
The Financial Abuse of Older People (April 2008)
A literature review carried out by the Centre for Policy on Ageing on behalf of Help the Aged into financial abuse - one of the most prevalent forms of elder abuse.
Debt and Older People (March 2008)
Research from the Personal Finance Research Centre at Bristol University commissioned by Help the Aged and Barclays to support the work of a nationwide money management programme, Your Money Matters, run by Help the Aged in partnership with Barclays. The research finds that an increasing number of people are reaching retirement age in debt, with 1 in 4 people approaching state retirement age having outstanding consumer credit commitments. Shockingly, these borrowers owe four times as much as their counterparts did ten years ago.
Debt and Older People - Executive Summary (March 2008)
The executive summary of the above report.
Presentations at the launch of the Debt and Older People Research at Toynbee Hall (March 2008):
Insurance and Age (March 2007)
A brief summary of key findings of research commissioned by Help the Aged and Age Concern, which aimed to measure the extent and nature of age discrimination experienced by older people when accessing motor insurance, travel insurance and car hire.
Insurance and Age 4 page summary (April 2007)
A shorter summary of the Insurance and Age report.
Insurance and Age (March 2007)
The full length report
Financial Exclusion among Older People (September 2007)
This report considers the nature and impact of financial exclusion among older people. The report highlights the challenges presented for older people by the move to direct payment of benefits, the shift towards chip and pin, and the increasing use of telephone and internet banking.
Losing the Post Office Card Account (January 2007)
This report sets out some older people's views on the account and its replacement. The survey found that 85 per cent of respondents felt that the Government shoudl not abolish the Post Office Card Account, but it also explored what older people would want from an alternative product designed for use at the Post Office.
Age Discrimination and Financial Services (June 2003)
A Help the Aged seminar report on age discrimination in financial services.
^top
Articles
Chip and PIN - final joint letter (March 2005)
Sent to The Daily Telegraph, explaining the need for alternatives and better understanding of the needs of vulnerable customers regarding the new chip and PIN credit and debit cards.
Debt impacts on older people's lives (July 2004)
A briefing which demonstrates that, despite the traditional image of older people as more conservative borrowers, debt is indeed touching older people's lives.
^top
|
