Third of over-50s affected by high levels of inflation

A THIRD of over-50s say they are experiencing poorer living conditions than a year ago, according to the latest Quality of Life Index by Saga.

Unemployment and abnormally high levels of inflation are continuing to eat away at the spending power of older generations, the report claimed.

Older people have experienced a continuous corrosion in quality of life throughout 2011, with older people becoming steadily less happy and less financially secure throughout the year.

However, the survey of 10,000 people found that the older the person, the more content and positive they are.

The average happiness level was marked between 60 and 70 per cent – with those in their early 50s marginally less happy than those in their late 60s and early 70s.

People over 70 ranked their positivity towards themselves at 73 per cent.

Dr Ros Altmann, director-general for Saga, said: “Our findings show that these are generations that all of society can learn from. Despite their economic difficulties, they feel more positive with age.

“We are still a long way from reporting a ‘positive’ quality of life for the over-50s. Although there seems to have been a minor improvement over the last quarter only, it’s too early to say whether this marks the start of a new trend towards true quality of life.”