'Older folk' need some assistance because of the effect of age on their lifestyle:
free bus pass - now intended to encourage them a) to get out and not vegetate at home and b) to not depend on driving their own vehicles as their faculties fall below normal standards
'reduced rate prices for many different things' is a bit nebulus so really needs to be clarified
winter fuel allowance because many elderly people are unable to cope with lower winter temperatures but cannot afford to pay for the additional heating needed
wealth locked away in bank accounts has no impact on anybody else because it is just money. If elderly people used it to purchase severely limited commodities, it would push the price, (or reduce the availability) for everybody else. Any wealth still around at end of life is either passed onto younger friends/family or charity, - it isn't burnt to stop anybody else getting it.
Some of these concessions given to the elderly may well be seen as vote catchers, because the elderly actually get off their arses and vote, something that anybody over the age of 18 can do, but somehow seem to be happier in their whinging about how their needs are ignored. If they did, they might be able to persuade the government of the day that some targetting of these benefits at those most in need was a condition of their vote.