New polling from Independent Age, the only national charity solely focused on supporting older people facing financial hardship, shows that 54% of adults under the age of 65 in Greater London are not confident they will have enough money to live comfortably in retirement*. The charity, which today launches a new strategy and visual identity, says these findings should raise the alarm about the threat of poverty in later life and highlights that its services are needed more than ever.
Independent Age also asked older people in London what challenges they are currently facing and found that almost half (46%) of older people (over 65) are worried about being able to afford basic essential costs such as food, housing and utility bills like energy and water over the coming six months.
Joanna Elson CBE, Chief Executive of Independent Age said: “These new findings are alarming. As our charity goes into its 164th year, our work to end financial hardship in later life is more important than ever. Today’s launch of our new strategy and visual identity will mean we can better reach and support both today and tomorrow’s pensioners facing life in poverty so that every older person in Greater London and across the UK can afford to live well.”
1.7 million older people across the UK currently live in poverty – 1 in 7 – and around a million more hover precariously just above the poverty line. This includes an estimated 200,000 in Greater London. Research previously conducted by the charity** projected that if nothing changes by 2040, the number of older people in poverty in the UK could reach 3.9 million, or almost one in four (23%).
Independent Age was founded in 1863 to support people in poverty. Since 1948, it has focussed solely on older people. Today, it launches its updated look, with a new logo and bold tagline: “Let’s end financial hardship in later life”.
Its new strategy (2027 – 2030) builds on the charity’s 163-year history of listening, empowering, supporting and amplifying the voices of people experiencing financial hardship. The strategy sets out how the charity will accelerate efforts to work with other key organisations to change the failing systems that leave older people in poverty before the end of this decade.
The charity’s focus on older people facing financial hardship is about reaching and supporting them through its helpline and advice services, and through funding grassroots charities across the UK to reach people they can’t and then using the evidence and stories from that work to change the system holding older people back. This includes 15 organisations in Greater London, helping an additional 14,000 older people experiencing financial hardship. Independent Age will continue to serve the people and communities who need it, under this clear mission statement: to stand with older people in financial hardship, offering urgent help today and shaping a fairer, more secure tomorrow.
Derrick Evans MBE widely known as ‘Mr Motivator’, guest speaker at Independent Age’s event to launch the new brand and strategy, said: “I know first-hand how difficult the reality of financial insecurity can be. No one should have to choose between whether they heat their homes or eat a proper meal and the older people in our country should be able to afford to live securely and with dignity. That’s why I’m delighted to join Independent Age’s mission to end financial hardship in later life.”
Independent Age Ambassador living in South London,Thabani Sithole, 77, speaks for many older people on low incomes struggling to make ends meet who received life-changing help from Independent Age. She said: “I was trying to pay the bills with just my State Pension and didn’t know how to make ends meet. The house was very cold – I was wearing extra clothes and covering myself in blankets. Even having a coffee out was beyond my reach.
“I was so happy when I received the letter from the government saying I was entitled to an extra £800 per month. It was a big relief. Independent Age gave me my dignity back. Without them, I think I’d be homeless.”
