1 in 3 LGBTQIA elders in financial hardship

A new report exposes the stark financial hardships faced by London’s LGBTQIA over-50s

BY YASMIN VINCE, IMAGE BY PIXABAY

Tonic Housing has released a new report, uncovering the financial crisis many of London’s LGBTQIA over-50s are in. The findings come at a critical time, as the organisation’s LGBTQIA-affirming retirement community reaches full occupancy. 

Based on a survey of over 100 respondents and in-depth interviews with 39 participants, the report has unpicked the myth of the “affluent LGBTQIA elder”. Rather, the LGBTQIA over-50s living in London, grapple with discrimination, social isolation, long-term health conditions and severe financial stress. 

Over a third of LGBTQIA over-50s were found to have a household income below £15,000, and, therefore, below the city’s minimum income standard. Two thirds live alone, and those living in single-person households were six times more likely to rely on food banks than those living with others. Meanwhile, three in five are disabled, and among this group, over half expect no social support in times of crisis. 

These findings reveal a hidden crisis. LGBTQIA elders are disproportionately struggling amidst rising living costs and dwindling social support networks. Baroness Barker, the House of Lords’ Deputy Speaker, said: “This report shines a light on the hidden hardship faced by many older LGBTQIA people. It addresses loneliness and isolation among the older members of our community, and the cumulative effects of a lifetime of discrimination – including high rates of physical and mental ill health. And it’s honest about levels of disadvantage – things can be much tougher if you’re LGBTQ+ and black, or LGBTQ+ and disabled, or if you’re trans or nonbinary. As a community we can come together to make a joined-up response to these deep-felt problems. Together, only together.”

Tonic Housing is calling for urgent action to tackle the social exclusion and financial hardships of LGBTQIA elders. Anna Kear, CEO of Tonic Housing, emphasised the need for change: “The findings of Precarious Lives are deeply concerning. LGBTQ+ over-50s in London are experiencing levels of hardship that have been largely ignored. Our community has fought for equality, yet many are now facing financial destitution in later life. Tonic Housing is proud to provide a pioneering solution, but we need systemic action to ensure no LGBTQ+ elder is left behind.”

Read the full report here.

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