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Launch of BME older people project
20 July 2010
Runnymede has launched a three year programme – funded by the Nationwide Foundation – researching black and minority ethnic (BME) older people and financial inclusion.
As part of this project, we are publishing two preliminary reports today on the future ethnic make up of older people in the UK and financial considerations around the decision to retire abroad.
The key findings of these reports are as follows:
- The Future Ageing of the Ethnic Minority Population of England and Wales: This report has found that while there were only half a million BME people over 65 in 2001, this will rise to 1.3 million in 2026 and 3.8 million in 2051. The implications for public service planners at a local and national level, as well as financial institutions, are therefore significant
- The Costs of ‘Returning Home’: For people retiring to countries such as India, Pakistan, Bangladesh, Trinidad & Tobago, Grenada, Nigeria and Kenya, their state pension – to which they may have contributed for over 40 years – will be frozen for the duration of their retirement, unlike those retiring in the UK and Europe, where pensions are automatically ‘uprated’ in line with increased cost of living. For example, a person who retired in 1990 and who moved to India or Canada is still receiving £47 per week, compared to the £98 per week for pensioners living in the UK or Spain.
Both of these reports will be available to download for free from our website later today.
Following these two desk based reports, Runnymede will undertake further research over the next three years comprising of interviews with hundreds of ordinary BME older people in different communities around the country as well as a range of experts. Issues covered will include retirement decisions within the UK, service provision and grandparenting.
For further information about this progamme email Dr Omar Khan at omar@runnymedetrust.org
