the period of life when a person stops working, usually after reaching a certain age, and often relies on savings and pensions for income

a situation where the proportion of older people, typically 65 and over, in a society is increasing

payments made by the Government to people of or above the official retirement age

How do we plan for the financial future?

Citizenship

Pupils explore what role financial systems play in our communities, they consider what personal responsibility they have for financial planning and what role government plays in this, focussing on the impact our ageing population has on financial planning.

How do we look after an ageing population?

Subjects which particular individuals may be sensitive to, eg, adoption, migration, bereavement or death, divorce, poverty, deprivation.

Depiction or discussion of sensitive content

What is a key reason to plan financially for retirement?

The {{}} is a regular payment from the Government to people who have reached retirement age.

Match the type of pension or savings account with its description.

One benefit of early retirement planning is more financial {{}} in later life so you have more freedom to do what you want.

everyone retires from working at the same age

everyone receives their pension at the same age

Which of the following is true about the retirement age in the UK?

older people are moving to different countries more often

more people are under 18 and this is increasing

fewer older people are retiring and staying at work

the amount of people aged 65 or over is increasing

Which of the following best describes the term 'ageing population'?

Match the Government response to the change in banking.

An {{}} is a machine that lets people withdraw money without needing a bank teller.

What is a disadvantage caused by widespread online banking?

Order the words to create a full sentence about the history of banking.

Businesses have had to adapt {{}} to keep up with customer expectations as a result of new financial technology.

What did debit cards replace the need for?

Content guidance

Depiction or discussion of sensitive content

Adult supervision recommended

This lesson will be removed by end of Summer Term 2025.

How do we plan for the financial future?

Lesson outcome

Content guidance

This lesson will be removed by end of Summer Term 2025.