The national charity Independent Age has introduced a £2.8 million grants fund to support advice-based organizations in reaching and assisting a larger number of elderly individuals. Liverpool and Knowsley, among other regions in the UK, are prioritized due to their significant populations of older people facing financial hardship.
The ‘Boosting Advice’ fund addresses the urgent and ongoing need for advice services for financially vulnerable older individuals.
Independent Age aims to enhance the underfunded advice sector, which faces a funding gap of £30 million in 2023/24, risking the operations of advice charities and leaving 43,000 people without access to specialized legal advice in the coming year.
Hannah Lison, Head of Grants and Partnerships at Independent Age, said:
“We know there are high numbers of older people in Liverpool & Knowsley who may be living in poverty, or at risk of financial hardship and could be entitled to pension credit and other benefits but are not currently claiming it.
“We also know the advice sector is managing increasingly complex needs under increasing pressure and budget constraints.
“This £2.8 million fund distributed across our priority areas will provide funding for advice organisations whose brilliant work will improve older people’s lives through increased financial well-being.
“If you think your organisation, or another organisation you know, might be a good fit for this grants fund, please visit our website or get in touch with our Grants team to find out more.”
The fund will allocate 3-year grants to charities offering consistent advice for older individuals experiencing financial difficulties. Eligible organizations can apply for a minimum of £90,000 (£30,000 annually) up to £180,000 (£60,000 per year).
Applicants should be advice-focused and hold the Advice Quality Standard (AQS) in England and Wales or at least Level 2 of the Scottish National Standards for Information and Advice Providers (SNSIAP). While organizations don’t need to currently work regularly with older people, they must present a plan for expanding their outreach to this group. The fund aims to enhance the capacity of advice organizations to support older individuals in financial hardship, offering training as part of the funding package.
This latest funding supplements previous grant rounds by Independent Age, including the 2020 emergency COVID fund and the 2022 emergency cost-of-living fund. To date, the organization has allocated £3 million to assist 77 organizations.
Joanna Elson CBE, Chief Executive of Independent Age, said:
“Over 2 million older people are living in poverty in the UK, and many more are living precariously on the edge. Our ambition is to improve the lives of 1 million older people facing financial hardship by 2027 and our grants programme is an essential part of this.
“A key way to tackle this problem is to ensure older people are informed about the financial support they are entitled to. We want to get straight to the heart of the issue by improving access to free advice services in areas of high deprivation where we know a lot of older people live.
“Through our £3 million cost-of-living grants fund we are already helping 77 organisations who work directly with older people to help those struggling with the cost of living. We’re very proud of these partnerships. With this new £2.8 million fund we are looking to expand our grants funding to include more advice-based organisations. By working together with a range of organisations, we hope to improve later life for as many people as possible.”
Further information can be found on Independent Age’s website: https://www.independentage.
All applications should be through Independent Age’s online portal: https://www.tfaforms.com/
The closing date for submission of an Expression of Interest is 5pm on 20 February 2024.
