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One-third of older Londoners say the capital is ‘unaffordable’

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‘The financial struggles of older Londoners are worse than ever’ according to the head of Age UK London

The temporary re-introduction of pre-9am use of the Freedom Pass and 60+ Oyster on Fridays, under the Mayor of London’s recently launched trial, is “a welcome relief”, according to a major charity for elders, which has found that more than one-third of older Londoners find the that the capital is “unaffordable”.

Research from Age UK London reveals that 39% of older Londoners are not satisfied with their financial situation, highlighting unmet needs and challenges concerning financial security. The survey found that 79% of older Londoners report their finances as a key concern, rising costs of food and energy meaning every penny counts.

Data published by Age UK London in October highlighted that almost a quarter (24%) of Londoners over the age of 50 are living in poverty.

Now, 1-in-3 older Londoners say that the city is becoming increasingly unaffordable for them. The cost of transport is a concern, limiting their ability to get around the city.

Abi Wood, the CEO of Age UK London said, “The financial struggles of older Londoners, whether they are still working or retired, are worse than ever. We continuously hear stories from people about the daily challenges they face.

“The reintroduction of free travel on Friday mornings for Freedom Pass and 60+ Oyster card holders over the next three months is welcome, but by no means far enough. As we get closer to the London Mayoral and Assembly elections, we will continue to be asking for more help for older people from the candidates, including bringing back free travel on weekday mornings and other ways to help them make ends meet.”

The off-peak Friday trial, including reinstating free travel before 9am, will continue every Friday until June. It was introduced by Mayor Sadiq Khan to assist Londoners with the cost-of-living, as well as encourage travel into the capital on Fridays.

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