Pension poverty challenges and mitigation

Summary

Housing associations provide general needs accommodation for older people, specialist extra care homes, and sheltered housing. This housing plays a major role in promoting good health and wellbeing across communities and prevents poverty through low rents and the provision of support and health services. This is particularly true for older people, with 29% of social rented tenants aged 65 and over.

Older person’s housing provides value to the taxpayer, reducing pressure and costs for the NHS and social care services. Specialist housing for older people annually saves the taxpayer around £3,000 per person through reduced reliance on health and social care services. The need for older person’s housing is likely to grow in coming years, with an ageing population. By 2035, the number of people over the age of 60 in England will reach 29% of the entire population. This will need to be met with the delivery around 31,000 new older person’s units each year.

This submission outlines some of the challenges facing older person’s housing, as well as a number of policy suggestions to increase supply over the coming years. We also highlight the social housing sector’s role in co-delivering and promoting Pension age benefits. With a proposed merger of Housing Benefit and Pension Credit to be introduced in 2026, it is vital that housing associations are consulted on as a key partner in delivering and co-designing these systems. Finally, we highlight the role of housing associations in tackling fuel poverty through decarbonisation efforts and the running of communal heat networks.