Pensioners surviving on less than £5,000 a year says Prudential Pensions

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Pensioners surviving on less than £5,000 a year says Prudential Pensions

As many as 1.4 million pensioners are living on less than £5,000 a year, according to new research by Prudential Pensions.

The research by Prudential Pensions revealed that after council tax, water and electricity bills the many elderly people are left with only £3,092 per year to live on, equivalent to just £59.46 per week.

Today's workers are warned of the risks of assuming they will be able to live comfortably on a the basic full state pension as Prudential Pensions reports this will leave only £4,381 a year.

Angus Maciver, Prudential UK director, said: "It's worrying to think that such a large number of pensioners in this country live on £5,000 or less a year. How many of us could truly say that we could manage on what works out to be just £8.49 a day?"

Prudential UK is a leading life and pensions provider with around seven million customers.

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