Friday was 'state pension shortfall day', when the spending habits of the average pensioner couple outstripped the full annual state pension. From this day on retirees must find income from other sources to cover their spending...
Figures from the Office for National Statistics suggest the average retired couple's expenditure amounts to £21,770 a year, while the full state pension for a retired couple brings in £16,939, effectively covering just more than three-quarters of annual spending - or enough until 6 October. This means from this day onward, households will need to meet their spending from their own sources, which leaves some £5,177 for retired couples to cough up from private pensions, savings and investments. Pension provider Just warned many pension savers accessing pension benefits early following t...
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