Pensioners first to loosen purse strings for good causes

March 7, 2006

A new report from MINTEL finds pensioners are truly Britain’s most generous donors as they dig deep for today’s good causes. Last year some 64% of Britons donated more than £5 to charity, but this rose to as many as three-quarters (75%) amongst those aged 65 years and above. All this is in stark contrast to today’s youth as just 44% of those aged 15 to 24 gave £5 and over. What is more, even baby boomers (69%), who are usually in a better financial position to donate, were in fact also less likely to give than pensioners. ” Britain’s over-65s remain by far the most active donors, outweighing the generosity of baby boomers despite being on retirement income. This may be explained by a feeling amongst those in retirement that, after a lifetime working to help themselves, they can now afford to help others a little more. Also, when consumers reach retirement, they probably won’t be saving or paying into a pension any more, and are likely to have paid off their mortgages, ” comments Matt King, senior market analyst at MINTEL.

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