Still Soldiering On?
Added on Thu 27th Oct 2011 by Charles (Lead Officer)
Two years ago, Citizens Advice Bureaux in Warwickshire in conjunction with Warwickshire Trading Standards undertook a survey in order to reveal the impact of the recession on the financial well-being of the over 60’s throughout the county. The findings of the survey were reported in ‘Soldiering On’ last year and established how hard the battle for survival had become for many of our respondents in 2009: not only were they having difficulty in paying for essentials such as gas, electricity, rent and food but they were also struggling to repay their mortgage, credit cards and loans. In addition our survey also revealed the hidden costs they were incurring as parents and grandparents, as they supported family members who had also been affected by the recession.
As Elizabeth Phillips, Chief Executive of Age Concern Warwickshire then noted, new problems brought on by the recession were clearly hitting pensioners disproportionately hard and the promise of a happy retirement was being shattered by the two evils of poverty and debt.
Two years on the economic downturn continues. Our older generation have had to live through the worst winter in living memory, the stringent measures imposed in the 2010 Budget by the new coalition government and the subsequent cuts in benefits, budgets and services for the elderly. Factors which we all know have the potential to tip those who are already struggling financially into an even deeper downward spiral of debt and the consequent knock-on effect on their health.
‘Soldiering On’ ended on a bleak note predicting that if the over 60’s were unable to withstand the impact of the recession in the short term, the long term effects could prove devastating.
To find out if this prognosis has proved to be true, another survey was undertaken across the county this summer. Building on the knowledge gained previously, additional questions were included to try and determine the level of debt our respondents had incurred and the impact that this was having on their physical and mental wellbeing.
Please click on the link below to access the report and findings.