Basic state pension lasts just three days

As part of its Axa Avenue experiment, the insurer gave 26 households with participants ranging from 30-50 years of age, the challenge of living for a week on the disposable income of a pensioner relying on the basic state pension. Of these households, only one managed to last the entire week, with £4.36 left over, and the survey found while the remaining single women had overspent by 200% - essentially lasting just two and a half days - men lasted almost four days with an overspend of just 79%, and couples managed to last just over three days but went over budget by 168%. Axa says the ‘...