Older People's Strategy - Newcastle City Council

104Outcome 5aOlder people have the opportunity to preparefor retirement and to receive ongoing adviceand informationIssues and prioritiesPeople need to plan ahead for retirement and to have access togood information and advice both before and during retirement.Older people are not accessing many of the benefits that theyare entitled to. This is often due to lack of understanding of thecomplex benefits system and sometimes a reluctance to undergofinancial assessments which are seen as an invasion of privacy.With proper advice and help, older people can access benefits,which can make all the difference to their quality of life.Older people need independent and affordable financial adviceand support. This is important to enable people to keep up todate with changing financial services. It is also important thatolder people who suddenly find themselves taking over themanagement of their finances after separation from or deathof a spouse can access sympathetic help and support. A widerange of advice and support is needed from the managementof day-to-day finances through to advice about specialistfinancial products for homeowners.Significant changes in financial services with an increasingrequirement for older people to have bank accounts, usedirect debits and debit cards is placing some older people,particularly those on lower incomes, at risk of financial exclusion.