Unleashing the economic and social power of our elders this International Volunteer’s Day

This year’s theme for International Volunteer’s Day is solidarity through volunteering.?As a society?we’ve known for a long time that many over 60s are motivated by a sense of duty?-?a desire to give something back. We?often?see this?with residents at RVG?communities, who put a lot of time?into helping?families,?friends,?local?communities,?and volunteer led organisations.?This input isn’t just nice to have, it’s often essential to keeping the show on the road. And, for me, it’s this?unity of action that demonstrates how important our elders are in reflecting everything that #internationalvolunteerday is about.?

On the flip side,?it’s also true that the over 60s?get?a bad rap for?their?perceived wealth compared to younger generations.?Against this context, we were curious to know:?what?are older people already giving back? And could we put a value on it??So, earlier this year we teamed up with the @Centre?for?Economic and Business?Research (CEBR),?to calculate the value of?free?time committed?by the over 60s?to?economically important activities.

The analysis is remarkable; demonstrating a whopping?￡48bn?-?the equivalent of 2% of the UK’s GDP?and more?than?the UK?spends on?its?defence budget?every year.??

How is this time spent??The?most common area of activity?is unsurprising -?providing?free?care for the nation, with close to one million retired people acting as informal carers to loved ones?- looking after grandchildren, caring for?parents or partners.

A second popular?activity?comes in the form of civic duty – no less than a third?of?councillors on England’s 12,000?local authorities?are?over 65.?This is a group that cares deeply about their community it's future.

A third area?is?through paid or self-employment. While older people may have left salaried jobs by their mid-sixties, many stay active as part-time?consultants,?and some?even?start new businesses.?We have many such ‘olderpreneurs’ in our communities, including Jane Briggs, at Elmbridge Village, Cranleigh; founder of a local accountancy firm. At 67, Jane is managing director and still does a four-day week which she juggles with her role as Chair of Elmbridge’s Resident Association.

?We see other examples of the entrepreneurial spirit burning bright?at RVG.?Such as the three residents in their 70s at Limetree Village, Rugby, who have started their own handy man service; doing everything?from hanging pictures for new residents to smaller plumbingjobs and general repairs. They are just there to help, to stay active and to support their community. And we're now exploring them setting up a repair shop in the village, involving the wider neighbourhood.

But sadly ageism is alive and well in our society. It's everywhere from the workplace to the local pub. But I don't buy it. In fact, in our elders I see an army of talent; invariably the wisest, most experienced, skilled, interesting and compassionate group in society.?

When we put them at the heart of our communities, surprising things happen. They make an enormous contribution; both socially and economically.??So, in?any debate about intergenerational fairness,?we should?remember that?today’s cohort of?over-60s are?contributing?to the economy for longer than ever before.?And increasingly they have the skills to keep on working, as most are?digital natives like the rest of the labour market.?

As the UK experiences one of the tightest labour markets for decades (including an acute lack of?carers)?older people?are already an important national resource.?But, there is more to do. As a society, we must start leveraging this cohort and create the conditions for older people to stay economically and socially active for longer.?Owners and operators of Integrated Retirement Communities?(IRC's) can work harder to connect?residents?to opportunities locally.?The next generation of?our communities at Retirement Villages Group Ltd ?will do this. Being designed and built to be totally?integrated with their local surroundings, so that the old stereotype of an exclusive, gated retirement community?is banished to?the past.?

It's time to think outside the box. An ageing society creates serious pressure; increasing social care costs, poorer pension schemes and a health service under ever more pressure is a tough in tray for Government. Whilst working aged people are asked to pay for social care for the elderly through higher national?insurance contributions.?So, the social contract between working age and retired people will continue to come under scrutiny.??

As we look for solutions, we must continue to draw upon the skills and experience?of older people.? As well as recognise?the growing contribution they already make to society.?Our elders are so often the glue of our communities.?So, don’t miss the opportunity, this International Volunteer’s Day,?to say thank you; to recognise those amazing people who help you and your community.? And let’s work together to create more opportunities?to help our elders continue to stay active, purposeful and contributing in later life. Because not only is this the elixir of longevity but the secret to healthy, integrated communities.

#Livewell #agewell #greatcommunities #antiageism

Shirley Hall Clair Carpenter Tim Seddon Stewart Moore Michael Voges Emma Earle (Axton) Nick Jones Helen Hogg