Skip to main content
Article thumbnail
Location of Repository

Involving older people in the development of financial products and services.

By Carol Brennan, Elaine Ritch and Yvonne Coull


Context - \ud For older people, financial awareness is increasingly relevant in a complex\ud market where the implications of making ill-informed decisions can be\ud costly both financially and emotionally (National Statistics 2007). This pilot\ud research study provided an opportunity to focus on the suitability of\ud selected financial products for older people. Bank accounts and equity\ud release products were selected for this study by an expert advisory panel.\ud New marketing initiatives were being used to promote bank accounts\ud including forms of insurance to the ‘50+’ market. Also older people are now\ud expected to provide for their retirement and it is anticipated that equity\ud release will be one product which may be used to fund and maintain\ud consumer lifestyles

Publisher: COPA, Queen Margaret University
Year: 2009
OAI identifier:

Suggested articles


  1. (2009). [Online] Available from:
  2. (2008). A city for all ages. Edinburgh’s plan for older people. City of Edinburgh Council. [Online] Available from: nd_plans/edinburghplanforolderpeople [Accessed 2nd
  3. (2008). AGE contribution to the Peer Review on ‘Public information on pension systems and pension system changes’.
  4. (2007). Age of equality? Outlawing age discrimination beyond the workplace. Age Concern [Online] Available from:
  5. (2000). An exposition of consumer behaviour in the financial services industry.
  6. (2008). Available from:
  7. (2008). Available from: [Accessed 8th
  8. (2006). Building Confidence in the equity release market. Council of Mortgage Lenders.
  9. (2007). CML reports more, but smaller, lifetime mortgages. Council of Mortgage Lenders [Online] Available from:
  10. (2008). Debts rise among older people. Money. Paul Lewis on the Web, Saga [Online]. Available from:
  11. (2007). Equity Release entering the mainstream. The Scotsman.
  12. (2007). Financial Capability: NCC’s response to the Treasury Consultation – Financial Capability: the Governments long term approach.
  13. (2004). Government response to Aspects of an Aging Population. Published by the Authority of the House of Lords. London Stationary Office Limited.
  14. (2005). Grey eminence.
  15. Help the Aged. 2006b. Help the Aged Consultation Response. Treasury Select Committee. Financial Inclusion. London: Help the Aged.
  16. Help the Aged. 2006c. Age Discrimination in Goods, Facilities and Services. Policy Statement. London: Help the Aged.
  17. Help the Aged. 2007a. Financial Services. Help the Aged Policy Statement. London: Help the Aged.
  18. (2004). Internet access and online services for older people in sheltered housing. Joseph Rowntree Foundation. [Online] Available from:
  19. (2006). Just above the bread line. Living on a low income in later life. London: Age Concern.
  20. (2007). Key Facts and Statistics. Age Concern. [Website] Available from: [Accessed
  21. (2005). Meeting the Information Needs of Older People: A Challenge for Local Governance. Local Government Studies. Volume 31. Number 1.
  22. (2006). Office for National Statistics [Online] Available from: ntId=6991&SourcePageId=18133#footnote [Accessed
  23. (2002). Our approach to performance evaluation. London: Financial Services Authority.
  24. (2006). Overcoming obstacles to equity release.
  25. (2008). Premier 50 Current Account. Alliance and Leicester [Online] Available from: [Accessed
  26. (2006). Security in Retirement: Towards a New Pension Scheme.
  27. (2006). So is equity release really that bad? The Observer. [Online] Available from:
  28. (2005). The Help the Aged Response. Financial Inclusion Taskforce. London: Help the Aged.
  29. (2008). The link between income, savings and property in funding retirement. Final report for the Financial Services Research Forum.
  30. (2004). The World Café: Part One. World Business Academy. Transformation.
  31. (2004). The World Café: Part Two. World Business Academy. Transformation.
  32. (2008). Thinking About Moving Into A Care Home? Part 4.
  33. (2007). Thoresen review of generic financial advice. NCC’s submission for the call of evidence. National Consumer Council.
  34. (2005). Thrifty Scots?. Steps to improve financial £iteracy. Scottish Council Foundation.
  35. Work and Pensions. [Online] Available from:
  36. (2008). World Café. People and Participation [Online] available from:

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.