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CAF raises older people’s charitable giving as Election issue

Charities Aid Foundation is calling on the next government to improve support for giving to charity by older people. In particular, it argues that the next government should help make it easier for people to give to the causes they care about as they enter retirement.
CAF was responding to HSBC’s Future of Retirement report which reports that more people are redistributing savings during their lifetime. In addition, it reveals that one in three people plan to take up charity or voluntary work when they retire.
With one week to go until the General Election, CAF is urging the political parties to commit to implementing the recommendations set out in the Growing Giving Parliamentary Inquiry.
CAF Chief Executive John Low said:

“During this General Election campaign we have heard far too little from all of the political parties about how they will embrace and support the huge role charities play in people’s lives.
“The next government should commit to helping people support good causes by unleashing the generosity and giving potential of people of all ages.”

He added:

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“The baby boom generation have got a unique opportunity to use their wealth and good health to make a huge difference to the causes they care about. Whether it’s through spending time volunteering or donating savings to a charity, it is clear that there is a real appetite among our older generation to give something back to society
“With ever-rising numbers of people reaching retirement age we need to ensure that people are given all the advice and support they need about the many different ways in which they can help the vital work of charities”.

Growing Giving Parliamentary Inquiry

CAF helped organise a Parliamentary Inquiry in 2013/14, chaired by former Cabinet Minister Rt Hon David Blunkett MP, on narrowing the generation gap in giving.
Its recommendations, which CAF is urging the next government to implement, include:
• Creation of a Post-Careers Advice Service to give older people information about how they can use their skills to volunteer and support charities, emphasising the benefits derived from volunteering and opportunities to get involved in the local community.
• Information and advice about charitable giving offered when an individual is given advice about their pension, giving those moving into retirement information about the different ways that they can give.
• Emphasis on will makers to inform clients that they are able to use their will to leave a legacy to a charity.
• Introduction of living legacies to provide people with a tax effective of giving to charity whilst they are still alive.
Photo: nest egg by Cowardlion on Shutterstock.com
 

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