Why now is the time for Independent Age to tackle financial hardship in later life
As Independent Age renews its focus on the growing issue of financial hardship in later life, Chair of the Board of Trustees, Baroness Julia Neuberger explains how the organisation reached this important decision.
In 2018, I was appointed Chair of the Board of Trustees at Independent Age, having admired the wonderful work the organisation had done to transform older people’s lives.
As an organisation, Independent Age has always focused on the vulnerable but over the years, we’ve seen a drastic increase in the number of older people being forced to make heartbreaking choices and dangerous cuts to their essentials to manage increasing costs and difficulties.
Our Helpline and services teams have shared devastating stories of older people left anxious and afraid as they try to survive on just their State Pension while bills pile up around them. We have heard of older people wearing as many layers as possible in winter to avoid using their heating, waking up in the middle of the night to fill a flask so that they won’t have to use their kettle during the day, and even skipping meals so that they can afford to feed their pets or see family and friends.
Nobody should be living like this in modern Britain.
We knew we had an opportunity to achieve more in this space, so in 2022 we reviewed our strategic focus to assess how we could improve later life for even more older people.
While the stereotypical image of retirement sees happy, wealthy people who own their own homes and enjoy regular holidays, we know this is far from reality for many in later life.
Many people within the Independent Age team have seen firsthand how financial hardship in the UK is growing. We know that more than two million older people live in poverty, with hundreds of thousands more living precariously and struggling with their finances.
Through conversations with older people, we understand the toll this takes.
We know that living in a difficult financial situation can impact our health, intensifying loneliness and reducing our quality of life. As a result, many in later life tell us they are left feeling invisible, overlooked and unheard.
We know that many older people don’t have the support networks to turn to during challenging times and that even if they do, stigma and shame can prevent them from reaching out for help.
We believe no older person should face financial hardship. We believe all older people should receive the support they’re entitled to and the connections they need. We believe all older people should be able to live in secure and suitable homes.
Which is why, by 2027, our goal is to have improved the lives of one million older people.
As an organisation, our history and financial position provide us with a unique opportunity to address the challenges so many older people are facing. Our renewed focus means we are the only national charity dedicated to support people facing financial hardship in later life.
Working across four strategic areas, we will break down the damaging stereotypes that prevent older people from accessing support. We want to amplify the financial experiences and issues that we can all face in later life, and work to ensure these problems are recognised and handled.
Across our different teams of policy campaigning, information and advice, grant-making and partnerships and more, we will increase the financial wellbeing of older people, increase awareness of entitlements and support that is available and increase the independence of people in later life.
As Independent Age continues with this new journey, I am excited to see the impact we can make with your support. Whether it’s supporting our campaigns, helping us fundraise or sharing your own experiences, we know we can make a difference to later life together.
Find out more about future plans the Hidden Two Million here.
Read our new report looking at the real-life stories and experiences behind the statistics here.
