Figures from the Office for National Statistics (ONS) have established that half of all single pensioners receive an annual income of under £6,000.The ONS figures, which cover 2005/06, also revealed that 62% of pensioner couples had a total pension income of less than £10,000. The research is highlighting the need for a private pension as [...]
This is not suprising. People that decide on pensions get stuck when they run low on money or actually go into debt and can not access their funds. It is always a good idea to stick to ISA for low income families since they always have a last resort if something bad happens with their job or incomes. However, the good thing about pensions is that there will be a retirement fund in the end no matter what happens financially on the way there.
Pensioners slipping below the poverty line
