Older Londoners call for the City to get on SIDE

The 'Get on SIDE' campaign aims to highlight the financial needs of London's older population, particularly those from minority ethnic communities.
 
LMEE is calling for financial services providers to:
 
- S: Sensitivity: show sensitivity to the special needs of older people and to provide information in plain English;

-  ID: Identity: accept the Freedom Pass when asked to prove identity; and

-  E: Educate: provide financial skills and capability training for older customers.

George Clerk from LMEE said:

“Older people are important customers of banks and other financial service providers, so it is important that they are treated with a lot of care and sensitivity.

"Unlike other members of the younger population, older people have already done the hard work over the years and are likely to have some form of investments (for e.g. cash ISA, stocks and bonds) or assets with monetary value (for e.g. houses, jewellery and land), which financial service providers are likely to benefit from.

"We would like the City to ‘Get on SIDE’ by making financial services aware of the needs of and being proactive in dealing with the needs of London’s Older population whether rich or poor.”

Be sensitive to the special needs of older people; particularly in ethnic minority communities by providing information in plain English.

Many minority ethnic older people in London will be in a much better position to access financial services if they are able to read and understand the literature provided by banks and insurance companies, as well as other service providers, for example, either in their home language or in plain jargon free English.

Older people will be better served if frontline staff are trained to be sensitive to the needs of the older community.

Accept the Freedom Pass as a form of  ID

Financial service providers should include the Freedom Pass, an identity card issued only to older people, as a form of ID for older people.

They stated that this is an important form of ID mainly because some older people do not have passports or driving licences, and it is very difficult in such circumstances to access services.

The Freedom Pass also contains a photograph of the older person as well as other personal details.

Provide financial skills and capability training to older people

Many older people have through the years worked and saved or invested money in one way or another.

However, a lack of understanding of financial services makes it difficult for many older people to make the best use of them. Financial service providers must support financial education for older people to improve their financial skills in later life.