Set against a context of cuts in public expenditure as well as an extensive programme of welfare reform, Ipsos MORI, on behalf of Scope, conducted an extensive research study exploring the issues of financial inclusion for disabled people.
The primary research comprised a representative survey of 1,009 disabled adults aged 16+ which was carried out between 27 July and 10 August 2012 across Great Britain using a combination of the Ipsos Online Panel and three waves of Ipsos’ weekly face-to-face omnibus survey, Capibus.
The survey was supported by secondary data analysis, which was conducted on the following large national surveys, with selected variables analysed by disabled and non-disabled respondents: Life Opportunities Survey; Understanding Society; Family Resources Survey; Wealth and Assets Survey; ONS Opinions and Lifestyle Survey; and Citizenship Survey.
The research identifies a number of key issues, which are discussed in more detail in the report;
- There are notable levels of pessimism amongst disabled people over their future finances, related to fears of rising prices and bills as well as falling (real) incomes;
- This is reflected in a low ability to save and prepare for the future, particularly for retirement – the majority anticipate relying on the state pension and pension credits
- Disabled people appear to exert greater caution over their finances than non-disabled people, with a lower tendency to buy on credit. Those that have borrowed on credit are more likely than non-disabled people to have problems with repayments, again reflecting that disabled people tend to live on tight budgets and therefore have to closely manage their borrowing and spending;
- Disabled people are less likely to seek formal financial advice than non-disabled people;
- There is a low level of awareness of Department for Work and Pensions (DWP) planned changes to the benefits system, due to be implemented from 2013; and,
- In general disabled people may not be fully aware of the options that are available to them, but rather take a low-risk, coping approach to dealing with their tight finances.
Automatic Enrolment: Quantitative Research with Small and Micro Employers
This report presents the findings from a recent survey conducted by Ipsos MORI on behalf of the Department for Work and Pensions (DWP). The report explores the experiences of small and micro employers who automatically enrolled their staff into a workplace pension, and the opt-out rate among these staff.