Report highlights spending sacrifices

Nearly five million UK pensioners have been forced to cut back
their spending in the past three months, according to the latest
Prudential Retirement Index.

The insurance firm’s report finds that nearly two million
pensioners are struggling to meet their financial commitments, with
women more likely to struggle than men. It says the problem is so
bad that 200,000 pensioners were considering resorting to crime or
had already done so.

Two million had decided to return to work, with 27 per cent of
these saying more income was the decisive reason for doing so.

Three-quarters of pensioners revealed that they would spend nothing
on health care including medication and treatment this year, while
two-thirds did not plan to put any money aside for savings and
investments in the next 12 months. 

– Report at www.pru.co.uk