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Age UK social enterprise response

Published on 05 February 2016 02:30 PM

Age UK social enterprise response

We strongly reject the allegations and interpretation of figures.

We've constantly remained price competitive but never claim to be cheapest at all times. We offer good value products that can be relied on by older people in a volatile market place. For example, our insurance products have no cancellation or change fees, no upper age limits, interest free instalments, are Which recommended and achieve defaqto five star ratings. Any net profits go straight to charitable activity supporting vital work for vulnerable older people.

The Age UK 2 year fixed tariff was within £1 of the very best nationally available E.ON 1 year tariff for nearly all of 2015 with the exception of a few weeks at the beginning of the year. This means that our customers on the Age UK tariff had the benefit of a highly competitive price with the added reassurance of certainty for 2 years and the freedom to switch to any other tariff at any time at no cost. We have no exit fees so customers can move anytime if they find a different deal. The long term Commercial partnership includes a typical commission to Age UK of £10 for each customer. Our current agreement with E.ON has seen Age UK benefit from some extra financial support to help us navigate the changes in this volatile marketplace, in recognition of our long history of working together.

We are completely open that profits from our Trading companies support Age UK's charitable work. We work with a wide range of market leading partners and carefully design and select our products and services to ensure they are appropriate for older people and we have very high levels of customer satisfaction. Simple comparisons with other quotations are misleading and profoundly unfair in view of the difference in products and services

-ends-

Last updated: Oct 06 2017

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