Wealth Divide and Domestic Abuse

People over the age of 60 hold nearly £3 trillion of wealth in the value of their homes, almost all of it mortgage free. That is more than half of all housing wealth in the UK. Under 35s by contrast control only £600 billion and half of that is mortgaged. These startling figures were published recently by the upmarket estate agent Savills which has analysed housing data in Britain for many years. It says this disparity between young and old has never been bigger.

MPs, charities and free debt advice providers are calling for an urgent change in the law to help protect the finances of thousands of domestic abuse survivors. At the moment people, mainly women, who are left in debt after fleeing abusive relationships normally have to have their names and addresses published as part of the process of getting that debt written off. Something campaigners say not only puts their personal safety at risk, but can also put them off addressing financial problems altogether. The government has said its currently reviewing this matter and will update in due course.

And, annuities are a safe, regular income in retirement. You can use your pension fund to buy one and a growing number of people are doing just that. Sales of annuities have seen an 83% increase since 2020, based on figures from the Association of British Insurers. We'll discuss what's behind that rise.

Presenter: Paul Lewis
Reporters: Dan Whitworth and Jo Krasner
Researcher: Catherine Lund
Editor: Jess Quayle

(This programme was first broadcast at 12pm Saturday 3rd May 2025)