Case Study :

Understanding financial resilience in later life

The Project

Financial resilience in later life

Our Approach

We conducted a two-stage project for Age UK to explore what makes older people well placed to cope with life events during retirement and financially resilient. We commenced with a rapid evidence assessment of available literature on the topic, both within the UK and internationally, together with depth interviews with expert stakeholders.  The second stage comprised 16 extended length groups with people aged 60+ and 8 paired depth interviews with retired couples across the UK.  The sample included those aged 75+ as well as a number of vulnerable older people such as those with disabilities, long-term health conditions or age-related frailty. We also specifically targeted older people who were digitally excluded or had low digital skills. By focusing broadly on older people’s financial lives and behaviour in this research, we were able to identify both the contributing factors and impediments to financial resilience. Overall, the research provided detailed evidence on the experiences, views and behaviour of older people in retirement, and drew a number of implications for future measurement of resilience as well as policy interventions to increase people’s financial resilience.  Reports from both the first and second stage of the research have been published and have informed the UK Financial Capability Strategy.

Client Feedback

“Collaborate Research were a joy to work with and added immense value to our project. Monique and her team were highly professional, responsive and easy to work with. Their robust analysis and willingness to engage in debate on the findings significantly enhanced our understanding and ability to make the most of the research. What stood out for us was the team’s commitment to understanding both how to engage most effectively with our target groups, including a wide range of voices and their real interest in the topic and policy context. We felt that developing a meaningful understanding the answers to our research questions was as important to Monique as it was to us.”
Lucy Malenczuk, Senior Policy Manager