Webinar and virtual report launch: Lockdown not shutdown – The myths and realities of spending in old age

Date: Thursday 2 July 2020
Time: 1.00pm – 3.00pm BST (8.00am – 10.00am EDT)

Coming out of COVID-19 with a functioning economy relies on us better engaging with older consumers.

The wealth and spending power of older people is significant.

Spending by older consumers is already worth £319 billion and may increase to £550bn or 63p in the pound by 2040.

Yet older people are under-spending. In 2015, our research found that retirees were saving £48.7bn per year.

A new ILC-UK report (Lockdown not Shutdown) launched alongside this webinar is seeking to to explore the main reasons why spending falls in old age. It makes a series of recommendations targeted at policymakers and industry to ensure we maximise the longevity dividend.

Chair: Diane Kenwood, ILC Trustee

Speakers included:

  • The Rt Hon. Lord Willetts FRS, Resolution Foundation
  • Jenny Holt, Phoenix Group
  • Professor Isabelle Szmigin, University of Birmingham
  • David Sinclair, ILC-UK

This ILC report and webinar is made possible due to the support of the ILC Partners Programme.

Full report is available for download here.

You can download the slides and see the full recording of the video below.