Elder Abuse

Read More

Elder AbuseElder Abuse

Our population is aging and incidents of elder abuse are increasing in line with this trend. Elder abuse is a serious issue in New Zealand, and Age Concern report that they receive around 2000 referrals a year, with the most common types being financial, physical and emotional. For every referral, there are, no doubt, many more cases which go unreported.

Financial abuse of the elderly can take many forms. At the lower, but still unacceptable, end of the scale, is pressure put on elderly parents by their children or others with regard to their financial affairs. In some cases, children may put pressure on parents not to use up their savings in order to preserve the children’s inheritance. Such pressure could see the elderly being persuaded not to move into a rest home or retirement village, not to take overseas trips or buy a new car, and not to borrow funds for living costs through home equity release. Alternatively, children or others, such as caregivers or friends, may pressure the elderly to give them money or possessions. Loans may not be paid back, or the elderly may be co-erced into providing security or guarantees for loans. Elderly parents can sometimes be forced to accommodate, with no payment, children with financial problems or grandchildren whose parents cannot care for them. This can cause significant financial hardship. At the higher end of the abuse scale, there can be misuse of powers of attorney to take money or straight out theft of money or possessions.

Elder abuse is not OK. We all have a duty to watch for signs of it and take action if necessary. This may include contacting other family members or caregivers, referring the matter to a community organisation such as Age Concern, consulting a solicitor, or contacting the police.

Related Articles

Economy
Liz Koh

Budget Winners and Losers

The latest Government budget had something for everyone but while most households will be a few dollars a week better off, there are some clear winners and losers. In the winners’ corner are businesses, those on high incomes, and savers. The biggest losers are property investors who have built large portfolios financed partly by tax rebates.

Read More »

Top Up or Miss Out

The end of June is an important date for KiwiSaver members. The financial year for KiwiSaver runs from 1 July 2009 to 30 June 2010 and if you have contributed at least $1,040 to KiwiSaver during that time, you will be eligible for the full amount of Government tax credit to be paid into your KiwiSaver account in July.

Read More »

Responsible Investing

There is a worldwide trend for investors to want to make a positive contribution to the world by investing in companies that are socially and environmentally responsible. If you are passionate about the effects of climate change, the scarcity of food and water, and social or environmental policies in general, then you will no doubt wish to ensure that the companies in which you invest are going about their business in a manner that is consistent with your views.

Read More »

Helping You Live your retirement To the Max

Keep in touch

Fill in your details and we’ll get back to you in no time.