Latest news with #OlderPeople
BBC News
4 days ago
- BBC News
Over-60s free travel 'costs £84m in lost revenue'
The 60+ Oyster cost Transport for London (TfL) £84m in lost revenue in 2023/24, according to new figures obtained in a freedom of information (FOI) photocard allows people aged 60 and over who live in London to travel for free on TfL services - including on buses, the Tube and most National Rail services in the capital - except between 04:30-09:00 on for intergenerational fairness reacting to TfL estimating a £84m lost revenue called for the benefit to be scrapped. However a group representing older people said it is "a lifeline for many to prevent social isolation and loneliness". Lost revenue is calculated as the revenue TfL would get if all journeys had been charged at full adult fares. The 2023/24 figures represented a significant increase on the two previous financial years, in which £71m and £51m was estimated to have been FOI also revealed there are 382,737 active 60+ Oyster photocard cardholders, of which almost a third – 119,735 – were registered in 2024/ Emerson, CEO of the Intergenerational Foundation - which studies fairness across generations - told the Local Democracy Reporting Service (LDRS): "On intergenerational fairness grounds, the mayor of London must stop this free travel bung to workers below state pension age."Why should struggling younger workers facing unprecedented living costs continue to subsidise this freebie?"TfL estimate that a third of journeys taken with the 60+ Oyster card would not happen if any fare were charged for these fares rose 4.6% in March, with research that month showing that the capital's public transport fares were the most expensive of any major world is also operating with a £23m shortfall. Dennis Reed, director of Silver Voices, a group that advocates for senior citizens, said free travel for older people "more than pays for itself by improved mental and physical health".He added: "(It) enables activities such as unpaid caring of grandchildren so that parents can work and voluntary work worth billions to society. "What sort of society are we becoming where essential benefits like this are being questioned?"Last month TfL announced the cost of obtaining a 60+ Oyster card would rise from £20 to £35, while the annual address eligibility check needed to retain the card will increase from £10 to £18.A TfL spokesperson said: "Both the mayor and TfL are committed to making public transport in London as accessible, convenient, and affordable as possible."We regularly review our range of concessions to ensure that they continue to benefit Londoners, while also remaining affordable for TfL to operate."
Daily Mail
6 days ago
- Business
- Daily Mail
We paid HMRC thousands to boost our state pensions - months later, we've got no idea where the cash has gone
Pensioners who spent thousands of pounds to boost their state pensions have received nothing for their money since it vanished into government coffers months ago. Hundreds of thousands of older people rushed to take advantage of a special deal – before it ran out in April – that would increase their retirement income. The offer allowed people to fill gaps in state pension records going back to 2006, rather than just the past six years.
