Centre for Policy on Ageing
 

 
Older savers report
 — the impact on older people of savings accounts where interest rates have dropped from their initial rate to negligible amounts
Corporate AuthorAll Party Parliamentary Group for Ageing and Older People - APPG
PublisherAll Party Parliamentary Group for Ageing and Older People, London, October 2012
Pages14 pp
SourceWarren Seddon, Secretariat to the APPG for Ageing and Older People: warren.seddon@ageuk.org.uk
KeywordsSavings ; Financial services [older people] ; Financial institutions ; Social policy.
AnnotationThe report focuses on the impact on older people of savings accounts which drop from their initial interest rate to negligible amounts, even though the same bank may offer better rates on the same terms for new customers. It combines previous research with some first-hand experiences of older people. It recommends ways in which the Government and the new Financial Conduct Regulator (FCA) uses powers to tackle the problem: reward loyal savers; make savings accounts more transparent; having simple products; and making savings accessible to everyone. (RH).
Accession NumberCPA-121018005 E
ClassmarkJDD: J: WNL: TM2 *

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