January 2023 | Fair Point | abrdn Financial Fairness Trust Newsletter

01 February 2023

The clock is ticking

The next closing date for our current grants round is fast approaching, only a week to go until the deadline (1pm on 6th February). Find out more.

We have been busy scheduling the next season of our podcast and we have some treats for your ears coming up. Our next episode will feature Danny Dorling who will be discussing Levelling Up, subscribe wherever you get your podcasts to receive alerts when new episodes are released.

Project in focus


Savings protect people from financial shocks and are crucial for financial well-being. People in the UK save less than any other G7 country; 750,000 families have no savings at all. Over the years the government has introduced a range of measures to get people saving more, from ISAs to Help to Save. The latest report from our partnership with the Resolution Foundation looked at these government incentives to save and how effective they are. The report found that those with the highest levels of wealth were benefitting most from  government incentives.

Read the press release

Read the report

Statistic of the month - 116% increase 
The rise in the average cost of a funeral since SunLife began tracking it in 2004.

This month Quaker Social Action has started work on a new plan to tackle funeral poverty – a problem which sees thousands of people every year forced into debt in order to cover the cost of a loved one’s funeral.  According to SunLife, a “basic funeral” costs just under £4,000. When 750,000 families have no savings, it’s not surprising that so many struggle to afford funeral costs.

The Trust is supporting QSA’s work to tackle the root causes of funeral poverty. Read more about the project.

What’s new?

Call for more government help for low-income families as energy prices escalate

New research from Changing Realities which found the needs of families with dependent children are being overlooked by policy responses that favour temporary, flat-rate payments.

The Changing Realities team from the University of York have been working in partnership with Child Poverty Action Group (funded by abdrn Financial Fairness Trust) documenting the everyday experiences of families on low-incomes. Their latest report highlights evidence of the hardship families are facing, and the strategies they are forced to adopt in their effort to keep their children warm.

Read the report.