Basic state pension lasts just three days

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The basic state pension will last pensioners of tomorrow only three days, according to Axa.

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 ‘...

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