Pensioners 'skipping meals' as high prices damage budgets

16/04/2009

A new study from Age Concern and Help the Aged has shown that high prices for goods and services are leading to severe financial troubles for older Britons.

The poll, which questioned 1,200 over-60s about their finances, revealed that 40 per cent were socialising less than before and had less money with which to pay energy bills.

Others were found to be cutting back on food costs.

High "pensioner inflation" was blamed for the troubles - with retirees on low fixed incomes facing proportionally steeper price rises than those still in work.

The true inflation rate for pensioners is thought to be well in excess of the official Consumer Price Index, which stood at 3.2 per cent in its latest reading.

Michelle Mitchell, charity director for Age Concern and Help the Aged, said: "Many older people are being clobbered by high prices and are being pushed to extreme measures to cope financially - the government cannot sit by while older people skip meals and put their health at risk.

"The oldest and poorest pensioners are being hit particularly hard."

Tags; Budgeting Advice, Retirement Money Problems,

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