Posts from September, 2008

Pensioners Being Forced Into Debt

Posted on Monday, September 29th, 2008 at 3:21pm

Age Concern have called for the government to increase the number of people receiving pension credits. A new report has found that  six out of ten low income pensioners are struggling to handle their finances.

The group are asking the government to introduce automated pension credit payments to ensure that most people receive them. One in ten poor pensioners are being forced into debt by the rising cost of living, and over half of them are cutting back on essentials.

A recent survey by GE Money showed that only one in four Brits feel their pension will cover their retirement.