The power of giving: How our grants are improving lives in local communities

Through our new grants fund, we’re helping older people with the cost of living this year

In December 2022 we announced which 50 community-based organisations would receive funding through our emergency Cost-of-living Grants Fund. The new funding comes amid a worsening cost-of-living crisis. With 2.1 million older people already living in poverty, rising food and energy prices risk pushing even more into financial hardship.

These 50 organisations offer a range of support, from help with housing issues to advice on cutting energy bills. All work directly with older people struggling with the cost of living, providing practical support to make sure they’re not forced to choose between heating their home or eating a meal. Each organisation receives £40,000 to help build their capacity to get more money into the pockets of older people.

The St Ann’s Advice Centre in Nottingham is one such recipient. Dedicated to giving older people advice on debt, welfare benefits and employment, it will use our funding to employ a dedicated money advice officer, who will give one-to-one help and support to older people in financial hardship in Nottingham.

Ant Giles, Trustee of St Ann’s Advice Group, says: “An increasing number of older people need our services as the cost of living tightens its grip on the most vulnerable. The funds from Independent Age will allow us to support even more people in later life, at a time when they are in urgent need.”

This urgency is demonstrated by YouGov polling we commissioned, which showed that nearly half (48%) of people over 65 in England could not afford a £50-per-month increase in their cost of living. Similarly, just under half (44%) of people over 65 were anxious about their finances.

Chair of the Board of Trustees at Independent Age, Baroness Julia Neuberger, DBE, says: “Although our emergency grant-funding will go some way to lessening the impact of rising costs for some of the nation’s most at-risk older people, the scale of the challenge ahead is monumental. When we launched the fund, we were flooded with requests for support, highlighting the scale of the problem.”

Taking up that challenge with us is Pension Insurance Corporation, which generously match-funded our Cost-of-living Grants Fund with a £1-million donation. This meant we could double its size to £2 million and reach 50 organisations.

For a full list of recipient organisations click here.