Just Retirement: Pensioners on the poverty line

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Just Retirement: Pensioners on the poverty line

Mon 24th Nov 2008

Just Retirement, a pension provider, has released a survey which shows that pensioners' disposable income is declining fast, presenting a serious risk that many may be left living on the breadline.

The study shows that 24 per cent of people are reaching the retirement age with debts still to pay off and 46 per cent are worried about the decline in their income.

Nigel Barlow, head of retirement solutions at Just Retirement, said that the figures suggested that poverty among pensioners could be set to spiral out of control.

He added: "It is key for pensioners to be aware of what resources are available to help stretch their income in retirement. Retirees can bolster their income by getting the most out of their pension fund."

This latest news comes after a Legal & General released a survey last week which showed that people would be more likely to pay pension contributions if they could withdraw from the fund more easily than they can at present.

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