ESRC Financial well-being in older age
Financial dimensions of well-being in older age
In 2013 the Personal Finance Research Centre (PFRC) was awarded funding from the Economic and Social Research Council (ESRC) under its Secondary Data Analysis Initiative for a 15 month research project to explore the financial dimensions of wellbeing in older age.
We analysed a suite of quantitative and qualitative datasets and synthesised the findings to provide a complete view of financial well-being among older people. This was complemented by survey data analysis of the longitudinal and cross-country influences on older people's financial well-being and quality of life.
The study generated new knowledge to improve our understanding of these issues, by examining the types of savings and assets that older people have; their patterns of spending and borrowing; their access and use of financial services such as bank accounts and insurance; and the relationship between financial well-being and quality of life.
An article in the Journal of Population Ageing.
Read the article [External Link]
David Hayes talks about our joint programme of research with ILC-UK, which uses Understanding Society to look at the financial wellbeing of people in later life.
Listen to the podcast [External Link]