The supermarket chain has announced that from May 24, customers aged over 60 will receive a 10% discount on their groceries every Tuesday with no minimum spend.
In order to redeem the discount, senior shoppers will need to show proof of age, such as a driving licence or senior bus or rail card.
The discount will be available in-store at Iceland and The Food Warehouse branches.
Iceland said it was the first UK supermarket to introduce such a discount after being motivated by research from Age UK, which found that three-quarters of older people were worried about the rising cost of living.
The company said it is also exploring a national rollout of £30 vouchers to those receiving state pension, following a regional trial over Christmas.
Richard Walker, managing director at Iceland, said: “We have a long history of supporting our over 60s customers, such as when we launched ‘Elderly Hour’ at the height of the pandemic.
“The cost of living crisis has made support for these customers even more important, which is why I’m proud that we’re finding new ways to support them, including the launch of this discount.
“We hope it will help all those in this age category to cut costs where they can.”
The move comes after data from Kantar showed that grocery price inflation hit 5.9% in April – an 11-year high.