New
New
Year 11

How do we financially protect an ageing population?

I can explain the financial risks and challenges for a society with an ageing population and consider how we can respond to these challenges.

New
New
Year 11

How do we financially protect an ageing population?

I can explain the financial risks and challenges for a society with an ageing population and consider how we can respond to these challenges.

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Lesson details

Key learning points

  1. An ageing population faces significant financial risks, including outliving savings, healthcare costs and scams.
  2. Financial education and early preparation are essential to reduce long term financial vulnerability.
  3. The Government provides support through the state pension, Pension Credit and regulatory protections.
  4. Local government assists with grants, home adaptations and essential social care services.
  5. Charities and advice organisations further strengthen protections by offering guidance, advocacy and practical support.

Keywords

  • Ageing population - a situation where the proportion of older adults, typically 65 and over, in a society is increasing

  • Financial risk / challenge - the potential difficulties individuals and communities may face in managing finances due to societal factors such as rising living costs and inflation

Common misconception

The aging population are all financially secure because they receive pensions.

Not all people are financially secure. Some may struggle due to low pension incomes, rising living costs, or a lack of savings, which can make it harder to cover everyday expenses.


To help you plan your year 11 citizenship lesson on: How do we financially protect an ageing population?, download all teaching resources for free and adapt to suit your pupils' needs...

Use real examples like scams or news stories to make financial risks and challenges relatable. Avoid asking pupils to share personal experiences, use fictional or news based scenarios to keep discussions safe and focused.
Teacher tip

Equipment

Content guidance

  • Depiction or discussion of sensitive content

Supervision

Adult supervision recommended

Licence

This content is © Oak National Academy Limited (2025), licensed on Open Government Licence version 3.0 except where otherwise stated. See Oak's terms & conditions (Collection 2).

Lesson video

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6 Questions

Q1.
An is a tax-free financial product often used to save for retirement.
Correct Answer: ISA, Individual Savings Account
Q2.
Match the support service with the provider.
Correct Answer:state pension,the Government

the Government

Correct Answer:workplace pension,the employer

the employer

Correct Answer:free prescriptions,the NHS

the NHS

Q3.
Which of the following sentences is correct about retirement planning?
Only wealthy people need to save for retirement.
Correct answer: Anyone can benefit from starting retirement savings early.
You can only save for retirement when you are over 50.
Financial planning for retirement is only for business owners.
Q4.
What is a situation called where the proportion of older people, typically 65 and over, in a society is increasing?
Correct Answer: ageing population, an ageing population
Q5.
Match the start of the sentence with its ending.
Correct Answer:Planning for retirement early,helps people have enough money when they stop working.

helps people have enough money when they stop working.

Correct Answer:The Government provides support,through pensions, benefits and public services.

through pensions, benefits and public services.

Correct Answer:Retirement is,the time of life when you stop working, usually after a certain age.

the time of life when you stop working, usually after a certain age.

Q6.
Order these words to make an accurate sentence.
1 - The Government
2 - need to
3 - minimise
4 - risk
5 - to
6 - balance
7 - the economy.

6 Questions

Q1.
Match the word with its definition.
Correct Answer:ageing population,a situation where the proportion of older adults is increasing

a situation where the proportion of older adults is increasing

Correct Answer:financial risk,challenges in managing finances due to societal factors

challenges in managing finances due to societal factors

Correct Answer:inflation,when the general price of goods and services increases over time

when the general price of goods and services increases over time

Q2.
Financial education can help people plan early for a secure for when they finish working.
Correct Answer: retirement
Q3.
What support does the UK Government provide older adults on a low income?
housing tax
Correct answer: Pension Credit
holiday vouchers
Income Tax
Q4.
Charities and advice organisations often stick up for people's right on their behalf This is called...
Correct Answer: advocacy, advocating
Q5.
Order these words to make a correct sentence about the Financial Control Authority.
1 - The FCA
2 - introduced
3 - the
4 - Consumer
5 - Duty
6 - in
7 - 2023.
Q6.
What do the local government offer grants for?
going out socialising
car repairs
gardening
Correct answer: home adaptions