Innovation,Older Consumers,Technology

Friday, 27th July from 10:00 to 12:00 - Impact Hub, King’s Cross, 34B York Way, Kings Cross, London N1 9AB




The Innovating for Ageing competition is now open. To make the whole process of submitting ideas easier, we are holding a “drop in” event – an informal place where you can meet with staff putting on the competition from ILC-UK and Just Group over tea, coffee and biscuits. We would be happy to help you out with submission process or any questions you have regarding Innovating for Ageing project.

Whether you’re a start-up, large company, individual or a social enterprise we’re keen to hear your idea and help you to develop your product or service that could help vulnerable older consumers.

The “drop in” Innovating for Ageing event will take place at the Impact Hub, King’s Cross on the 27th July from 10:00 to 12:00. You are welcome to attend and leave at any point between that time.

If you would like to have an informal chat with us on the 27th June at the Impact Hub, please contact us on to let us know you will be attending.

Older Consumers,Pensions,Work and Retirement

Thursday, 13th July 2017; 15:00 (for 15:15) - 17:00, House of Lords, Palace of Westminster, London SW1A 0PW

Held in the House of Lords on Thursday, 13th July 2017, this roundtable discussion focused on 'The Value of Financial Advice', a report produced by ILC-UK, with the support of Royal London.

Attendees heard from:

  • Report author Ben Franklin, Head of Economics of Ageing, ILC-UK
  • Isobel Langton, CEO, Intermediary, Royal London
  • Sir Steve Webb, Director of Policy, Royal London

The report under discussion is now avaialble to download here.

The presentation slides from the event are available to view below:

Older Consumers,Work and Retirement

Wednesday 14th January 2015; 08:30 (for an 08:45 start) - 10:30; EY, 1 More London Place, London SE1 2AF

During the 2014 Budget, the Chancellor announced widespread reforms for individuals accessing defined contribution pensions at retirement. Most dramatically, he proposed abolishing the effective requirement to annuitise altogether. Under the new system anyone, regardless of the size of their pension pot, will be able to choose between drawdown or other products, annuitisation or full withdrawal, but they need to know what to do.

On 14th January 2015, ILC-UK published a major piece of qualitative and quantitative consumer research which explores how people might behave under the new policy framework and ascertain what their preferences are for taking an income in retirement and why.

During the event and debate we explored:

  • What consumers plan to do as a result of the new pension freedoms?
  • The extent to which consumers understand the decisions they are likely to need to make to best realise an income in retirement
  • How to make guidance and advice effective?

The research has been supported by a consortium of industry partners (Just Retirement, LV, Partnership, Key Retirement and EY).

Agenda from the event

08:30 - 08:45 - Registration

08:45 - 08:50 - Welcome by Chair
Lawrence Churchill (ILC-UK Trustee)

08:50 - 09:00 - Presentation of research
Ben Franklin (Senior Research Fellow, ILC-UK)

09:00 - 09:25 - Presentations from:
The Rt Hon. the Lord Hutton of Furness (Former Secretary of State for Work and Pensions (2005-07); Member of the Public Service and Demographic Change Committee (2013 - 13))
Dean Mirfin (Group Director - KR Group, Key Retirement)
Dr Ros Altmann (UK Government's Older Workers Business Champion)
Maggie Craig (Acting Head of Savings and Investment Division; Policy, Risk & Research Division, Financial Conduct Authority)

09:25 - 10:25 - Discussion and Q&A, including responses from additional panel members:
Jackie Wells (Head of Policy and Research, National Association of Pension Funds (NAPF))
Jane Vass (Head of Public Policy, Age UK)

10:25 - 10:30 - Close by Chair
Lawrence Churchill (ILC-UK Trustee)

Video clips from the event are available to view on YouTube here:

Presentation slides from the event are available to view below:

Communities and Housing,Future of Age,Older Consumers,Quality of Life,Work and Retirement

Tuesday 18th November 2014; House of Lords, Westminster, London, SW1A 0AA; 15:30 (for a 16:00 start) - 18:00

During 2014, ILC-UK, supported by the specialist insurer Partnership Assurance Group plc (Partnership), undertook a series of events to explore the relationship between our changing demography and public policy.

This was the final event in the Population Patterns Seminar Series and it explored the “silver separators”- divorce later in life. Figures from the Office for National Statistics published in 2012 showed a huge rise in the divorce rate amongst those in their 60s, with an increase of 58% on the 2011 figure. The last 10 years have seen more and more older people part ways, despite divorce amongst the general population becoming less common. This has happened to such an extent that the over 60’s are now the fastest growing divorce group in the UK.

A variety of reasons have been suggested , including a reduction in the stigma surrounding divorce and couples no longer feeling obliged to stay together if their attitudes and needs change.

However, figures released by the ONS in June 2012 revealed that marriages involving older people were also rising faster than for other age groups – up by 21% for women and by 25% for men in their late sixties. Re-partnership is likely to be even higher than these figures suggest, as older people in a new relationship may not choose to remarry.

During the event the discussion explored a number of themes, including:

  • What factors have contributed to the rising rate of divorce amongst the over 60s?
  • How can older people’s relationships be better supported?
  • What challenges does ageing present to relationships?
  • How do care responsibilities effect relationships?
  • What are the potential ramifications of older couples separating?

Agenda for the event

15:30 - 16:00

16:00 - 10:05
Welcome from:
Baroness Sally Greengross (ILC-UK)

16:05 - 16:55
Presentations from:
Richard Willets (Partnership)
Rt Hon Paul Burstow MP (Member of Parliament for Sutton and Cheam)
Ben Franklin (ILC-UK)
Chris Sherwood (Relate)
Barbara Bloomfield (Co-author of ‘The Mature Times Guide to Love and Relationships in Later Life’)

16:55 - 17:55
Discussion and Q&A

17:55 - 18:00
Close from:
Baroness Sally Greengross

Presentation slides from the event:

Older Consumers

Tuesday 22 October 2013. 13.30 for 14.00. Brown Forman Beverages, 45 Mortimer Street, London, W1W 8HJ

In an ageing society, understanding and engaging with ‘the older consumer’ is of pressing interest for businesses who want to realise the potential of the market. But it is not an easy market to understand or describe.

A key issue to be addressed by marketers is to avoid a homogenisation of older people. The diversity of consumer spending of this group is often lost in ageist perceptions of ‘what older people want’. Despite this however, it remains to be seen if the commonalities of ageing – such as wealth depletion and physiological changes – nudge older people to gravitate to a norm.

In Dec 2010, ILC-UK and the Personal Finance Resource Centre (PFRC) at the University of Bristol published a report which explored what and how older people spent their income (Consumption Patterns Among Older Consumers). The evidence from this report fed into the ILC-UK report for Age UK on older consumers (The Golden Economy).

ILC-UK and PFRC have teamed up again to further explore issues around consumption and old age, funded by the Economic and Social Research Council Secondary Data Analysis Initiative. At this seminar we presented new evidence which explores patterns of expenditure among older people and considers what explains these.

During the seminar we:

  • Considered how our spending varies as we age, including setting out average and overall spending by age group;
  • Segmented older households based on their patterns of expenditure;
  • Considered the validity of a single ‘older consumer’ model.

The presentation slides from the event are available to view below:

Health,Intergenerational,Older Consumers,Work and Retirement

The Actuarial Profession, Staple Inn Hall, High Holborn, London WC1V 7QJ, 16:00, 22 November 2011

A debate considering the health and employment of older workers.

Demographic change means that many organisations now employ greater numbers of older workers. Many of these older workers will carry on working for longer than employees in recent decades for a variety of reasons including rising state pension age, the scrapping of the default retirement age, financial necessity, or simply wanting to continue working.

By many measures, today’s older workers are healthier than in the past - some would even call them “younger” as they retain an active life for longer. However, many chronic health problems such as cardiovascular disease, diabetes and musculoskeletal conditions are more likely to be experienced by older people. While some believe that older workers suffer more ill-health than their younger counterparts, others says older workers take less time off because they are more conscientious and do not call in sick after a night out.

Many of the health problems that older workers suffer can be prevented or managed, but doing so requires a comprehensive approach that involves many actors including the NHS, health professionals, employers and older workers themselves.

The questions that will be considered during the debate include:

  • Do older workers take more or less sick leave than their younger counterparts?
  • What kind of health problems commonly lead to older workers taking sick leave or exiting the workforce early?
  • What government policies exist to help support older workers who experience health problems?
  • What interventions or innovations can minimise or prevent ill health amongst older workers?

Agenda from the event:

16.00 – 16.30
Registration and refreshments

16:30 – 16.35
Welcome by Actuarial Profession co-chair and introduction from co-chair Baroness Sally Greengross, Chief Executive, International Longevity Centre - UK.

16.35 – 17.05
Keynote speech on trends in the health of older workers, Dame Carol Black, Department of Work and Pensions

17.05 – 17.15
Measures and policies designed to support the health of older workers, ILC-UK

17.15 – 17.25
Case study on intervention(s) to support the health of older workers

17.25 – 18.30
Questions and panel discussion with speakers

Close and drinks



Economics of Age,Older Consumers

The Actuarial Profession, Staple Inn Hall, High Holborn, London, WC1V 7QJ, 16:00, 23 November 2010

Older consumers are an increasingly important market for a variety of goods and services. Indeed many companies are already profiting from this market.

Yet at the same time, the dominant view in both academic literature and amongst marketeers is that “the older consumer” is far too often ignored. Research as far back as the 1960s has highlighted the potential of the market whilst at the same time identifying concerns with the private sector’s efficiency at targeting and reaching the older consumer.

Over last 10 years a number of Government reports have recognised the importance of the older consumer. The importance of older consumers was highlighted for example, in the Government’s ageing strategies Opportunity Age (2005) and Building a Society for All Ages (2009).

In April 2009, the BIS report New Industry, New Jobs stated that the Government would draw up an action plan for business and Government on the economic opportunities presented by an ageing society. BIS published an analytical and discussion paper on whether business was ready for an ageing nation in spring 2010.

At this event, ILC-UK launched new research on the older consumer market. The research includes primary and secondary data and incorporates new findings from the PFRC at the University of Bristol.

Minister of State for Universities and Science, David Willetts MP, responded to the research ahead of a panel debate.

The questions we considered during the debate included:

  • Is there market failure in the consumer marketplace?
  • Does industry understand the older market?
  • Is the “older consumer” changing?
  • Is there any such thing as an older consumer?
  • What if anything makes a consumer an older consumer?
  • How can we improve the consumer experience of older people?
  • What do we know about how to reach the older consumer?
  • What role is there for Government intervention?

Agenda from the event:

16.00 – 16.30
Registration and refreshments
16:30 – 16.35
Introduction from the Chair(s)
16.35 – 17.05
“The Older Consumer” David Sinclair, Head of Policy and Research, ILC-UK
17.05 – 17.25
David Willetts MP, Minister of State for Universities and Science
17.30 – 18.30
Questions and panel discussion with Tom Wright (Chief Executive, Age UK), Andy Godfrey (Boots); David Metz (Visiting professor at University College London, member of Financial Services Consumer Panel, and author of ‘Older Richer Fitter: identifying the consumer needs of Britain’s ageing population).
Close and drinks