UK pensioners expect fall in spending power

The providers' report, Cost of Living in Retirement - which polled 200 pensioners - found British retirees know they will face falls in income but are under-prepared. Simon Smallcombe, head of guaranteed distribution for AXA UK said: "It's very concerning that despite people knowing their purchasing power will reduce, they aren't doing anything about it." The report found many pensioners (69%) had not made sufficient plans to counter inflation as a result of early retirement due to ill-health or redundancy. But half (58%) of respondents admitted to having not sought any financial a...