Older People's Strategy - Newcastle City Council

102Aim 5Financially and materially secureThis aim has the following outcomes:Outcome 5aOlder people have the opportunity to prepare for retirementand to receive on-going advice and informationOutcome 5bOlder people have the opportunity to workIssues and prioritiesContextThe Indices of Multiple Deprivation show that in Newcastle23.7% of the population aged 60+ live in households withdeprived income (see Annex 7, Note 21).Many older people are finding it increasingly hard to manageto pay for essential items such as good food, heating andstaying active. National research also shows rising levelsof debt amongst older people (see Annex 7, Note 22).There is increasing complexity in the range of financialproducts available to older people. Significant changes in theway post office and banking services are provided (e.g. debitcards; internet banking) may be increasing financial exclusion,especially for those on lower incomes.