Financial Services: Eligibility

Treasury written question – answered am ar 9 Gorffennaf 2009.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Bob Spink Bob Spink Annibynnol, Castle Point

To ask the Chancellor of the Exchequer if he will estimate the number of those over 65 years of age who have been disqualified from eligibility for financial services on the grounds of age.

Photo of Sarah McCarthy-Fry Sarah McCarthy-Fry Parliamentary Secretary, HM Treasury

The Government Equalities Office 2007 consultation "A Framework for Fairness" found that some people were unhappy about how age is used in financial services products, mostly in respect of older people's experience of travel and motor insurance.

After the "Framework for Fairness" consultation and the report of the expert's working group on age discrimination in financial services, the Government commissioned research from Oxera on the use of age-based practices in financial services. This was published by the Government Equalities Office on 29 June 2009 alongside "Ending age discrimination in services and public functions—a consultation", and concluded that, although some people have real problems with finding and buying suitable insurance policies, no age group is excluded from motor or travel insurance markets on the grounds of age.

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