Media response: Age UK’s Financial Resilience in Later Life report

**25 June 2014 **

Caroline Rookes, CEO of the Money Advice Service, comments:

“The Money Advice Service welcomes Age UK’s Financial Resilience in Later Life report, and its focus on how the financial services industry can respond to the needs of a rapidly ageing population navigating an increasingly complex retirement landscape.

“This report is an important contribution to the debate around older people’s financial health in the context of an ageing society. It provides a clear analysis of the issues that people face in later life, and we are pleased that the Financial Services Commission recognises the important role that financial capability plays in building financial resilience and wellbeing amongst older people.

“We also welcome Age UK’s comments that developing the Financial Capability Strategy for the UK should include a specific focus on older people. The Money Advice Service will continue working with Age UK to develop a sector-wide strategy for older people that meets the needs of older people effectively. We will also continue to work closely with Age UK and other organisations to develop the guidance guarantee and welcome their suggestion of a portable fact find”.

For more information, please contact: The Money Advice Service press office on 020 7943 0593 or pressoffice@moneyadviceservice.org.uk