Impact of the recession on older people

Dick Stroud has been at it again! This time his company joined with Mature Insights to undertake a survey of over 1,600 older people, using Mature Time’s national newspaper and web site. The task was to examine the impact of the recession on the UK’s over-50s.

Amongst the findings were:

Over 25% say the recession has had little or no effect with a third reporting that they have not changed their spending patterns.

Over 60% say the recession has resulted in them only making a few cutbacks in their expenditure.

Despite older people holding 80% of savings and investment assets in the UK, the fall in interest rates has seriously affected only 20% of respondents.

Not all of the news is so positive - 12% have cut back drastically on spending.

The banks and the Labour Government are blamed for the economic problems resulting in a significant swing to the Conservatives and minority parties.

The over 50's are giving far more financial support to their families than they are receiving.

Charitable donations have been very badly hit by the recession.

If you want to read the detail then all you need to do is download the report.