Almost 1 million people over 75 “living in poverty”

News


16 May, 2016

Almost 1 million people over 75 “living in poverty”

A report by charity Independent Age suggests that almost a million people aged over 75 are living in poverty on their current pension income.

The charity also claimed that the government should be doing more to help these people by making them aware of other benefits that they can apply for to top-up their pension. Furthermore, deVere Group understands from the charity’s research that over-75s are £3,000 a year worse off compared with younger pensioners on average.

The “poverty threshold” that Independent Age signified in its report was £182 a week before housing costs are taken into account. For couples, that amount rises to £272 per week.

The charity’s chief executive, Janet Morrison, stated: “It would be foolish to assume that inequality simply ceases to exist at retirement age, but that is exactly what some of the recent rhetoric around 'intergenerational unfairness' does. The 'silent generation' of older pensioners, renters and single women have missed out on many of the gains of recent years.”

One of these gains that she mentions is pension credit, a benefit that is used to increase low income but isn’t being accessed by around 750,000 people who are entitled to it. Independent Age’s research was based on the Family Resource Survey for the 2013-14 financial year which was published by the UK government and National Statistics.

Related news - UK expats to lose £50k from state pension following Brexit