The study focuses on Latin America, identifying the obstacles and difficulties currently facing the elderly when they try to gain access to formal financial services.

The research shows how the financial requirements of this age group differ from those of other demographic groups; essentially, they need money to cover basic necessities, such as food, shelter and health, rather than to enter into productive or entrepreneurial activities.

It also highlights how the elderly are often excluded from the formal financial system because of their age, the instability of their incomes, etc, obliging them to seek alternative sources of finance.

Consequently, in order to promote their financial inclusion, the study proposes five priority actions to be pursued by governments and providers of financial and social services:

• Improve data on income sources and financial services used by older people.
• Support the goal of universal pension coverage by integrating social pensions, our savings, and improve compatibility with other income strategies.
• Make credit more accessible: eliminate age caps and offer emergency loans.
• Deepen existing financial products used by older people and design new ones.
• Financial education and consumer protection.