Ishares Age Pop Discussion Threads

[ariane] 28/2/2007 18:10

Council tax rise will be a heavy blow for pensioners and the low paid!
Filed under: Debt News - Matt at 6:20 pm on Wednesday, February 28, 2007
With the average council tax bill forecasted to rise by 4.2 per cent in Britain during 2007/08, the Liberal Democrats have warned that the increase could be too much for some. Andrew Stunell, Liberal Democrat local government spokesman, said that the council tax rise will be a heavy blow for pensioners and the low paid and more people will be added to the two million people already struggling to pay their council tax bills.


He added that the council tax is getting increasingly unfair and it puts a lot of pressure on people, when it rises above the rate of pay inflation and the rate of pension inflation. Liberal Democrats support for the abolition of council tax as the principal means of fundraising for local authorities.

IsItFair, an interest group in the United Kingdom that aims to abolish council tax and to replace it with an income-related tax, has opined that the forecasted above-inflation rise in council tax will anger pensioners and people in the low income group.

The current forecast on the council tax rise, is based on a study commissioned by the BBC, which covered two-thirds of English and Welsh councils. This rise will be the third lowest annual increase since the tax was introduced in 1993, but it is still above the Consumer Price Index inflation rate of 2.7%. The average council tax increase for 2006/07 was around 4.5%.

[waldron] 19/2/2007 20:17

Tax on 'peace and quiet'
This is Money
19 February 2007

Good views and 'peace and quiet' could be used as reasons to push up council tax, the Tories claimed today.

The party said it had obtained a copy of the criteria set out in an internal Government handbook relating to a revaluation of properties in Wales.
The 2005 documents from the Valuation Office Agency - which acts as council tax inspectors - were released in response to written Parliamentary questions.

In a pilot, they showed, mobile and park homes were given higher council tax bills for features such as 'convenience of public transport facilities', 'peace and quiet', 'shop providing basic groceries', 'pleasant views' and 'good security'.

Tory spokeswoman Caroline Spelman warned they could be applied to houses elsewhere in the UK, creating a 'punishing and cynical tax on people's quality of life'.

But Local Government Minister Phil Woolas accused the Opposition of scaremongering, saying they had created needless anxiety with a 'complete disregard for the facts'.


Ms Spelman claimed the handbook was 'proof that Gordon Brown has turned council tax into a punishing and cynical tax on people's quality of life' and she added: 'It is no wonder that the revaluation in Wales forced council tax bills to soar for so many homes.

'Northern Ireland is facing the same treatment from April, and I fear England and Scotland will follow.'

She said home improvements such as double glazing and central heating had been recorded by inspectors 'to help drive up bills'. 'It is deeply worrying that householders had to fill in intrusive questionnaires about every aspect of their property, with the veiled threat of a compulsory inspection of their private home if they resisted.'

But Labour's local government minister said: 'It is untrue to say that taxpayers in England will pay more because they have improved their home. Properties that have been improved cannot be placed in a higher band, because of that improvement, until the property is sold or until a revaluation of all properties is carried out.

'Council Tax Revaluation in England has been postponed and we do not believe that revaluation will take place in this Parliament.

'The real victims of these shock tactics are the elderly and vulnerable who will be needlessly frightened by what they hear.'

[waldron] 21/1/2007 10:29

What are safe income plans and equity release plans?
here are a number of schemes which enable you to tap into the value of your home without having to sell it and move out.

Over the past forty years, thousands of retired homeowners have found that these plans provide a safe and successful method of releasing regular income or a cash lump sum, to improve the quality of their life in retirement.

The alternative may not be very attractive. Too many elderly homeowners find themselves in the unenviable position of having to watch every penny they spend from day to day, while most of their money remains locked up in their single biggest asset - their home.

Home income plans and equity release plans can resolve the problem safely.

But there are other schemes on the market which make the same promises - and bitter experience has shown that they are neither safe nor successful. To confuse matters, some of these schemes have sometimes been described as home income plans or equity release plans, too.

The purpose of this website is not to recommend any particular plans to you. Its aim is solely to help you to distinguish between the various plans available and to enable you to make an informed and sensible choice.

[waldron] 21/1/2007 10:22

Equity release booms as elderly cash in their bricks Published: 07:00 Sunday 21 January 2007
By Lorna Bourke, Money Columnist

Demand from elderly homeowners for extra income or lump sums has fuelled demand for equity release schemes which reached a record high in 2006.

New business is expected to exceed £1.2 billion in 2006 and hit 1.7 billion by the end of 2007, according to a survey by Safe Home Income Plans (Ship), the trade association which represents 90% of lenders in this market.

Newer flexible drawdown products, which are cheaper because the homeowner only draws relatively small amounts and the interest therefore rolls up more slowly, have proved particularly popular with consumers.

These allow consumers to withdraw only the equity which they require for immediate purposes, maintaining the rest within the property interest-free until they have need of a further cash advance.

Ship members forecast even greater flexibility in products in 2007 as well as new products such as enhanced release plan for impaired lives. The survey also found that one of the main reasons for a client taking out a plan was to enhance their quality of life, purchasing items like a new car, or carrying out home improvements.

The real constraint to expansion of business is a shortage of good, qualified, independent advice. Ship members have highlighted a number of concerns coming from consumers. Chief amongst these was the effect of equity release on their estate and the impact on State benefits like pension credit.

This links directly to member concerns that there is a shortage of IFAs prepared to offer advice on equity release who would be able to inform consumers of exactly what the impact on their benefits or estate would be – in spite of the fact that there are software programmes available which will deal with this problem. This confirms the findings of the recent FSA mystery shopping analysis of advice in the equity release market.

'The equity release market has come a long way over the past decade and has made very real strides in its attempt to rid itself from the scepticism that surrounded it in the early years,' said Jon King, chief executive of Ship.
'Equity release has never been cheaper, more accessible or - with full regulation imminent in 2007 - safer. Modern drawdown products are a far cry from the inflexible, poor value products of the past.'

'The findings from this year's survey highlight the necessity for Ship to continue advances made last year in promoting better advice to the consumer in 2007. Reassurance of the security of all products provided by Ship members must be made apparent and more confidence needs to be instilled amongst the IFA community. The demand from the consumer for these products is clear, now it is up to the industry to ensure that they have access to appropriate, expert advice as well as great value products,' King said.

[ariane] 19/1/2007 14:20

Average council tax bill to top £1,300
Daily Mail
19 January 2007

The average council tax bill will soar past the £1,300 mark in April, Government figures show.


Local Government Minister Phil Woolas confirmed that most householders face an inflation-busting rise of 5%, adding £63 to the average band D bill.


This means council tax has more than doubled since Labour came to power in 1997. Homeowners are already struggling with rising mortgage rates, fuel bills and the cost of living in general.


Mr Woolas announced a £26bn Treasury cash injection for councils yesterday, insisting it would prevent 'excessive' tax increases. Grants to local authorities have risen 39 per cent in ten years, he said.


Tory local government spokesman Caroline Spelman warned, however: 'Regardless of how the Government tries to spin these figures the reality is that working families and pensioners will see their council tax bills hit £110 a month.


Many families are really starting to feel the pinch and these latest figures suggest Gordon Brown is going to squeeze family incomes even more.'


James Frayne, from the Taxpayers' Alliance, said the Government 'talks as if their grants to local authorities will stop the need for tax increases'.

'The fact is that taxes are going to keep going up until national and local politicians start to get a grip on waste and unnecessary spending and start to realise that the money they spend belongs to the public, not them,' he added.

[waldron] 15/1/2007 07:04

Last Updated: Monday, 15 January 2007, 00:33 GMT

ONS highlights personal inflation

Now you can measure your very own inflation rate
Members of the public can now work out their own personal inflation rate using an official government website.
An online calculator will enable people to work out how their spending compares with national averages.

The Office for National Statistics wants to give people a better insight into the goods and services pushing inflation higher - currently at 2.7%.

It will also help explain why people's experience of rising prices is often different from the official version.

"The most important (reason) is that the national inflation figures are based on average spending patterns," said national statistician Karen Dunnell.

"But every household is different, and the way inflation affects them depends on how they spend their money."

The calculator, being launched at 0700 GMT on Monday, will let people know if their own household's inflation rate is higher or lower than the national one.

It will not let them input exact details of their own spending, just their typical spending on a wide range of goods and services.

Rising inflation

Pressure groups for the elderly, the poor and the unemployed have long complained that the cost of living for particular groups in society is often very different - usually worse - than that suggested by the official government average.

The UK's elderly have consistently been hardest hit by inflation among all the age groups

Shona Dobbie, Alliance Trust

Last December Help the Aged said the official inflation figures were "stuck in fantasy land" as many pensioners have to spend a disproportionately large part of their income on items such as fuel, council tax and water rates - which have been rising.

An investment trust company Alliance Trust calculates that inflation is currently highest for the over-75s, at 4.1%.

Shona Dobbie of Alliance Trust said: "Our four-year study shows that the UK's elderly have consistently been hardest hit by inflation among all the age groups and their inflation has risen to record levels since 2003.

"Although the inflation rate facing every age group is on the rise, the impact on some of the younger age groups is lessened by falling prices for clothing, footwear, household appliances, audio visual equipment and petrol."

Last week the Bank of England announced a surprise rise in interest rates to 5.25% because it fears that inflationary pressures are building up in the economy.

It is widely expected that the official inflation rate - the Consumer Prices Index - may reach nearly 3% when it is announced on Tuesday, partly thanks to things like rising utility bills.

The 2.7% figure recorded for November was the highest for almost a decade.

Personal inflation

With the Consumer Prices Index being made up of prices from hundreds of different goods and services, judicious spending can lead to someone enjoying their own, low, inflation rate.

Stay in and order all your clothes by mail order

Roger Bootle, Capital Economics

Roger Bootle, of Capital Economics, has recently devised a similar calculator for a national newspaper website, and has some tips to beat inflation.

"Stay in and order all your clothes by mail order," he said. "The cost of clothes and footwear has dropped by 40% in the past 10 years.

"Don't drink and smoke a lot and avoid restaurants like the plague.

"Also, don't have kids and if you do, definitely do not educate them privately."

At any one time, different groups of people will have different rates of inflation.

But Andrew West, an economist at the Institute of Fiscal Studies, said someone suffering from higher-than-average inflation today may not be doing so in a year's time.

"Over the last 25 years pensioners' inflation has been a little bit below the average," he pointed out.

"They will have below average inflation again if fuel prices come down."

[maywillow] 04/1/2007 08:54

Artist: The Who
Album: A Quick One (Happy Jack)

--------------------------------------------------------------------------------

People try to put us d-down (talkin' 'bout my generation)
Just because we get around (talkin' 'bout my generation)
Things they do look awful c-c-cold (talkin' 'bout my generation)
I hope I die before I get old (talkin' 'bout my generation)

This is my generation
This is my generation, baby

Why don't you all f-fade away (talkin' 'bout my generation)
And don't try to dig what we all s-s-say (talkin' 'bout my generation)
I'm not trying to cause a big s-s-sensation (talkin' 'bout my generation)
I'm just talkin' 'bout my g-g-g-generation (talkin' 'bout my generation)

This is my generation
This is my generation, baby

Why don't you all f-fade away (talkin' 'bout my generation)
And don't try to d-dig what we all s-s-say (talkin' 'bout my generation)
I'm not trying to cause a b-big s-s-sensation (talkin' 'bout my generation)
I'm just talkin' 'bout my g-g-generation (talkin' 'bout my generation)

This is my generation
This is my generation, baby

People try to put us d-down (talkin' 'bout my generation)
Just because we g-g-get around (talkin' 'bout my generation)
Things they do look awful c-c-cold (talkin' 'bout my generation)
Yeah, I hope I die before I get old (talkin' 'bout my generation)

This is my generation
This is my generation, baby

[waldron] 31/12/2006 10:53

Householders face 4% hike in council tax
Daily Mail
29 December 2006

Homeowners face council tax rises of more than 4% in April because of an increasing reliance on private sector contracts.



Many local councils use contractors for rubbish disposal, road repairs and support services such as care for the elderly and disabled.
The bill for private sector contracts has nearly doubled in the past five years, and now accounts for 20% of local government expenditure.

Rising costs coupled with a growing elderly population have caused total council tax bills to rise from £10bn to £18bn in just five years.

The next increase is likely to put the average council tax bill for a Band D home up to more than £1,300, if the decision is finalised in February.

Lord Bruce-Lockhart, chairman of the Local Government Association, said council tax rises were inevitable but would be capped at around 4%.

He said that in some cases private firms appeared to charge local councils more than they would for the same service to private clients. He said contractors could put in high bids for tenders because there was little competition.

Bills for road maintenance paid by councils are rising at 7% a year - twice the rate of inflation.

'The impression we get is that similar contracts within the private sector are not running at twice the rate of inflation,' he told The Times.

Since 1997, when Labour came to power, the average Band D council tax bill has risen by 84 per cent to meet the increased costs of services. This year there was a rise of 4.5%.

Ministers plan a high-level inquiry which will be chaired jointly by Lord Bruce-Lockhart, Richard Lambert, Director-General of the CBI, and Stephen Timms, Chief Secretary to the Treasury.

They will consider whether more services should stay in-house and also look at how to reduce costs by simplifying tenders.

[waldron] 31/12/2006 08:32

Two million non-savers vulnerable as care home costs rocket

Published: 07:00 Sunday 31 December 2006
By Lorna Bourke, Money Columnist

Christmas is traditionally time for the family. But for many elderly people it will be spent in a care home the costs of which now averages over £21,000 a year.

New research from Fidelity International suggests that the equivalent of nearly two million people aged 55-75 who have spare money to save, have no plans to allocate any to pay for long term care.

And don't assume it won't happen to you. One in six individuals need full time care and the average stay is around three years.

The survey shows that of the quarter of those who do plan to set aside money, one in three will reserve less than £25,000 – enough to cover just one full year's care.

Data shows that the average stay in a nursing home is three years and around one in six people are likely to need it.

Moreover, EU figures show from age 65 a man could spend eight years and a woman about ten years in ill health.

While the National Health Service (NHS) provides a guarantee that medical treatment will be free of charge, no such guarantee exists for long-term nursing care.

Financial assistance is offered to the needy, but anyone with capital in excess of £21,000 in England and Northern Ireland will have to pay their long-term nursing care costs in full. The corresponding figures for Scotland and Wales are £20,000 and £21,500 respectively

'Longer lives can mean more time in retirement but also more time in poor health – a message that sadly does not seem to be getting through,' said Simon Fraser, president of institutional business at Fidelity International.

'The average nursing home stay is three years but of the people who will put some of their money aside, just one in five will reserve anywhere near enough to pay for it - and this assumes they haven't run out of money by the time they are unwell.

'This all tells us that a significant chunk of a generation, those on the cusp of retirement, could spend their retirement in both poverty and ill health.

'If people want enough money to live on in retirement and pay for the things that really count – like spending twilight years in comfort and dignity let alone passing money onto to their children – they need to start saving regularly and in a wide basket of savings and investments.'

Owain Wright, head of long-term care funding at Saga, added: 'It's important to remember that there are many options available to people in this situation and they should never just assume that they will have to foot the entire bill themselves.

'For instance, you could pay for your care with the help of an interest-free loan from your local authority, or you can cap the cost of your care with the purchase of a guaranteed income for life. Indeed on many occasions you may be able to avoid having to pay for your care costs at all.

'Paying for long-term care is a complex and emotive issue, and it's vital that people seek independent, specialist financial advice before they do anything else, as this could mean the difference between having to dip into those hard-earned savings or leaving them intact.'

Saga recently launched a free service which can help people to understand their options and entitlements. Saga also has a free advice line and comprehensive free guide to paying for long term care. Both are available by calling 0800 0568152.

[richardbees] 24/12/2006 21:01

As a recently qualified O.A.P and ex RAF it's good to see the wrinklies are included on this bb!

imho pensioners have seldom had it so good AS LONG AS THEY PLAN AHEAD AND DISTRIBUTE ASSETS WELL IN ADVANCE (and arrange to unload any private pension entitlement, unless it's for a lot of money, at least 3 years before retiring) At all costs they must ensure qualifying for Pension Credit - because then everything else is free.......

..."Free yourself from the burden of wealth - and join all the other elderly migrants entering this bountiful Welfare State!..."...

[maywillow] 24/12/2006 19:45

cheers jack

seasons greetings

[ariane] 23/12/2006 07:25

Cut your council tax by £540
Simon Moon, This is Money
7 April 2006
UP to two million pensioners are missing out on state help that could cut their bill by £540 a year. Charity Age Concern says despite another round of inflation-busting household bills this month, council tax benefit is still the most unclaimed benefit of all - with pensioners losing out on up to £1.1bn each year.


'Spiralling household bills are leavingms of older people struggling to make ends meet, yet they are still more likely than any other age group to miss out on benefits cash,' says the charity. 'In fact, shocking government figures show that up to £4.1bn is failing to reach the pockets ofms of pensioners every year.'


Today marks the start of Age Concern's Your Rights Week - its annual campaign to encourage older people to claim benefits that are rightfully theirs. The charity says: 'With pension and benefit rates set to rise from Monday it is more important than ever for older people to put in their claim.'



Pension credit, council tax benefit, housing benefit and attendance allowance are the main benefits that older people are missing out on. This is because they don't realise they are entitled to extra cash, don't know how to claim, or feel there is a stigma attached to claiming and would rather 'make do'.



Gordon Lishman, Age Concern's Director-General, says: 'It's really worrying that so many older people are still not receiving the financial help they are entitled to.ms of pensioners across the UK are struggling to manage on a really low, fixed income and are increasingly anxious about paying their bills.


'The Government should increase the basic state pension to a decent level so that older people are not so reliant on means-tested benefits. But in the meantime, we would urge all older people finding it difficult to make ends meet to contact their local Age Concern and ask for a benefits check. Age Concern advisers help older people claim benefits worth millions of pounds every year.'


Age Concerns across the UK will be taking the Your Rights Week message into their local communities and running a range of activities to boost pensioners' incomes. Throughout the week, Age Concern will be operating its information helpline - freephone 0800 00 99 66 (8am-7pm) - and sending out a free information pack to all callers.


FREE BOOK OFFER


To coincide with its campaign, Age Concern has published a new edition of its best-selling guide, Your Rights 2006-07: a guide to money benefits for older people. Written by Age Concern's income expert Sally West, the book is an invaluable guide for older people and their friends, relatives or carers. It provides clear, up-to-date information on the money benefits available, together with advice on how and where to claim. Priced at £5.99, readers can purchase copies by calling Age Concern Books on 0870 44 22 120 or by visiting Age Concern online.



This is Money has 15 copies of Your Rights 2006/07 to give away. Simply send a postcard with your contact details to: This is Money/ Your Rights, Age Concern England, Public Affairs, Astral House, 1268 London Road, London SW16 4ER. Closing date is April 17, winners will be chosen at random by Age Concern.

[waldron] 06/12/2006 08:15

Novartis Ag Novartis says new data shows efficacy of Galvus for elderly


ZURICH (AFX) - Novartis AG said new data shows that Galvus -- an once-daily
oral medicine for patients with type 2 diabetes -- significantly reduces blood
sugar levels in people aged 65 and older without the increased risk of side
effects.
"Pooled analyses from a number of phase III studies showed significant
improvements in blood sugar control among patients in this age group when
treated with Galvus without the increased risk of side effects that often limits
more aggressive treatment in these patients," the Swiss pharma group said in a
statement.
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jmt/tc

[grupo guitarlumber] 03/11/2006 04:50

Cheers! How red wine 'stops' ageing
02/11/06
By Martin Evans

DRINKING vast quantities of red wine could help fat people live longer, according to a scientific study.

Researchers say they have found evidence that massive doses of a "magic" ingredient can lower the risk of diabetes, liver problems and other diseases connected with obesity.

And they believe the extract could help everyone live longer by combating a range of life-threatening illnesses including cancer and heart disease.

One scientist involved in the American study described the results as the "Holy Grail of ageing research".

The positive health benefits of red wine have been known for centuries, but now researchers claim to be close to identifying a way it can help virtually halt the ageing process.

Unfortunately, in order to reap the benefits you would need to drink around 100 bottles of red wine a day – enough to kill a man many times over.

Scientists are now working on a way of extracting the key ingredient, resveratrol, and creating an easy to take pill or capsule.

They hope the supplement could cut the risk of early death for millions.

Resveratrol is a powerful antioxidant produced by certain plants as a defence against the effects of injury and fungal infection.

It is found in high quantities in grape skins, in peanuts and some berries.
Researchers at Harvard Medical School and the American National Institute of Ageing tested mice which had been fed on a high-fat diet.

They were treated with ultra-high doses of the red wine extract and the results astounded scientists.

The organs of the obese mice looked completely normal and were relatively undamaged by their high-fat diet. Fat-related deaths among the mice fell by 31 per cent after they had been given doses of resveratrol.

Mice which had been fed on a normal diet also enjoyed a longer lifespan after being fed the extract.

Dr David Sinclair of the Harvard Medical School in Boston, Mass-achusetts, said: "If we are right, you could have the benefit of restricting calories without having to feel hungry. It is the Holy Grail of ageing research."

He added: "The 'healthspan' benefits we saw in the obese mice treated with resveratrol, such as increased insulin sensitivity, decreased glucose levels, healthier heart and liver tissues, are positive clinical indicators and may mean we can stave off in humans age-related diseases such as type-two diabetes, heart disease, and cancer, but only time and more research will tell."

The mice were given extracts of resveratrol equivalent to 100 bottles of wine a day and scientists believe it works by spurring regrowth in the central powerhouses of the cells.

Dr Sinclair said: "For mice at least it shows that you can be fat, happy, healthy and vigorous."

Dr Richard Hodes of the US National Institute on Ageing, said: "These findings are a notable step."

[grupo guitarlumber] 01/11/2006 09:08

Elderly struggle with 5% inflation
Kirsty Walker, Daily Mail
1 November 2006

Millions of pensioners are facing financial hardship because the cost of living is rising at its fastest rate for over 15 years.

The elderly are finding it increasingly hard to make ends meet as the price of everyday goods - such as fuel and food - soars above the rate of inflation.


This year, the basic state pension will rise by only 3.6%. The increase is linked to the Retail Price Index, which calculates the cost of a typical basket of goods for UK families and includes luxury items such as DVDs and mobile phones, whose prices have fallen. The 'Pensioners Price Index', which provides a more accurate inflation rate for the elderly, paints a depressing picture as they are less likely to buy these luxury goods.


Official figures which measure the cost of living for single pensioners reveal prices rose 5.1% between July and September - the highest increase since 1991. Campaigners also warn that elderly people are being hit particularly hard by rises in energy, council tax and food bills.

Liberal Democrat pensions spokesman David Laws said: 'The Government is neglecting the poorest in society, happily claiming that we have an ever healthier economy while pensioners struggle harder every week to make ends meet.'


Help the Aged said the current method of calculating inflation 'fails to take account of the rise in prices for everyday services which pensioners rely on'.

[grupo guitarlumber] 12/10/2006 13:36

ECB says population ageing could lead to slower growth, more inflation pressure

FRANKFURT (AFX) - The European Central Bank said population ageing is likely
to weigh on euro zone GDP growth in the years ahead, unless steps are taken to
increase employment and contain rising pension costs.
Population ageing could lead to a slowdown in euro zone GDP growth to around
1 pct by 2050 from 2.1 pct in the 1995-2005 period, if productivity and labour
utilisation growth and the retirement age remain unchanged, the ECB said in its
October monthly bulletin.
Growth would average 2.0 pct in the 2005-2010 period, but then slow to 1.5
pct in 2011-2030 and 1.2 pct in 2031-2050, it said.
And while growth would be slowing, the ECB said it could be faced with
increasing inflation pressures if labour becomes more scarce and taxes are
raised to finance increases in government spending.
"In the event that the necessary structural reforms are not undertaken,
monetary policy may in certain episodes have to respond to higher inflationary
pressures," it said.
Moreover, with a bigger proportion of retired households relying on wealth
built up in assets such as housing, it will become more important for the ECB to
protect them against inflation.
"The central bank's mandate to maintain price stability might become even
more important so as to avoid individuals' retirement provisions being eroded
over time by relatively high inflation rates," it said.
The accumulation of wealth in real estate and financial assets might also
prompt the ECB to take a more active role in trying to prevent asset price
bubbles.
"Increasing old age dependency and wealth-to-income ratios could strengthen
the case for leaning against asset price misalignments or 'bubbles'," it said.
Population ageing could also lead to declines in share prices and rises in
government bond prices, as the large groups of people reaching retirement age
become more risk averse.
"Downward pressure on securities prices could materialise because a large
elderly generation will sell financial assets to a smaller-sized middle-aged
generation," the ECB said.
"At the same time, a possible reallocation of financial portfolios towards
less risky assets could result in upward pressure on the prices of these assets,
for example government bonds," it added.
While life expectancy is increasing, declining birth rates are expected to
mean that the population of the euro zone is projected to start shrinking in
around 20 years.
As a result, the proportion of people older than 64 is expected to increase
to 55 pct of the numbers of working age by 2050 from 26 pct currently, the ECB
said.
This could lead to an increase in government spending on pensions and
healthcare of more than 3 percentage points of GDP, with particularly large
increases in Spain, Portugal and Luxembourg, it said.
The ECB said reforms are therefore urgently needed both to pensions and
labour market policies.
Benefits in public pension systems might need to fall to prevent massive
increases in contribution rates, and there may also be a need for more private
pension funding, it said.
And measures need to be taken to increase labour market participation.
"Increases in the statutory retirement age and/or average annual hours of
work will also be necessary," it said.
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sw/cmr

[waldron] 10/10/2006 07:58

Last Updated: Monday, 9 October 2006, 23:17 GMT 00:17 UK

E-mail this to a friend Printable version

Vision and hearing loss connected

Vision and hearing impairments in older people were linked
Vision and hearing loss are likely to occur hand-in-hand in older people, research suggests.
Australian scientists examined about 2,000 people with an average age of 70.

They found the volunteers with restricted eyesight were more likely to suffer hearing impairments and vice-versa.

Writing in the journal Archives of Ophthalmology, the researchers said the underlying causes for these sensory impairments may be the same.

Dual sensory impairment or deaf-blindness is something which most people experience in their old age

Sue Brown, Sense

Among the participants, all from the Blue Mountains region in New South Wales, Australia, 178 had a visual impairment, categorised as eyesight worse than 20/40.

And a further 56 had "best-corrected" visual impairment, meaning even when using glasses or contact lenses their eyesight was worse than 20/40.

Of this combined group, 206 people (88%) also had a hearing problem.

The researchers discovered that, for each line of the eye chart used by ophthalmologists that a volunteer could not see, there was an 18% (for the visually impaired) and 13% (for the best-corrected visually impaired) increase in the likelihood of hearing loss.

Conversely, those in the group that suffered hearing loss were 1.5 times more likely to have eyesight problems than those with good hearing.

Age markers

The researchers also found that both those suffering age-related macular degeneration and cataracts were more likely to suffer hearing loss than those without these disorders.

The authors, from the University of Sydney and the National Acoustics Laboratories, Sydney, said the connection between vision and hearing could be explained by the fact that both are consequences of ageing.

They suggested common risk factors can predispose people to these sensory impairments.

They wrote: "Exposure to oxidative stress, cigarette smoking and atherosclerosis [hardening of the arteries] and its risk factors have been linked respectively to age-related macular degeneration, cataract and hearing loss.

Another common risk factor for cataract and visual and hearing impairments is diabetes.

"Further studies are needed to understand the relationship between visual and hearing impairments in older persons and to determine whether intervention to improve these impairments could delay biologic ageing."

Sue Brown, head of campaigns and public policy, Sense, a deaf-blind charity, said: "Dual sensory impairment or deaf-blindness is something which most people experience in their old age - Sense estimates there are currently two million people in the UK aged over 65 who are affected by a sight and hearing impairment.

"With an ageing population this number is set to increase making the issue of dual sensory loss even more relevant. The combined effect of a dual sensory loss causes difficulties with communication and mobility which are far greater than a single sensory loss."