Retirement Minister could make a “significant difference” says report

A Retirement Minister could make a “significant difference” ensuring older people’s needs are heard at the highest level, according to a new report.

The 2012 Retirement Nation report by MGM Advantage has found two-thirds of older people (65 per cent) feel they are treated badly by politicians, while four in ten (42 per cent) feel that society treats them badly. A further third (34 per cent) feel they are poorly portrayed by the media.

The majority feel undervalued by society, despite the huge contribution they give.

The report found that those approaching and in retirement gives society each year on average 75 hours in charitable work at a value of £5.7bn and 73 hours in voluntary community work at a value of £5.5bn.

But most significantly, they provide 326 hours in free care for grandchildren, parents and other family members, saving the family economy £15.5 bn in the last year.

Aston Goodey, director at MGM Advantage, said: “The retired nation continues to contribute significantly to the UK economy, increasing their impact to the tune of almost £2bn in the last 12 months. Yet it seems £27bn’s worth of unpaid care, voluntary and charity appears to go unnoticed by society, politicians and the media, with millions of retirees experiencing a significant lack of respect.”

He added: “We are calling for the needs of this diverse group of people to be represented at the highest level within government. The creation of a Minister for Retirement would ensure the voice of the Retirement Nation is heard across Whitehall and would begin to address the issue that society and politicians treat them badly.

“The retired nation is a large and powerful group in both their political and financial influence. Without doubt they are re-thinking their approach to retirement, but, the rest of society needs to re-think its perception of them.”