Older Brits 'forced back into work'

25/06/2009

More and more older people are going back into paid work because their pensions aren't enough to live on, it has been claimed.

According to official Department for Work and Pensions figures around 17 per cent of "pensioner households" were getting extra income in this way last year.

A decade ago, this figure stood at just 12 per cent - meaning that pension incomes have become harder to live on over the intervening years.

Commenting on the data, Key Retirement Solutions said that the rise of pensioners in work represented a "worrying trend".

Dean Mirfin, group director at the firm, added: "State support is decreasing and pensioners are having to be more self reliant.

"With falling retirement provision ahead we expect that the percentage of income coming from the state will fall further behind the cost of living. Of further worry is the widening gap between pensioners net and gross income, showing that taxation of our older population is rising."

Tags; Income Worries and Debt, Retirement Money Problems,

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