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Pensioner poverty leads to drastic measures
08/12/2005 14:13:00
Many pensioners are struggling so much with poverty that they resort to desperate deeds to try and cope.
Research from Prudential shows that 17 per cent of pensioners get by on less than £5,000 each year, while a third cope on under £7,500 a year.
Nearly one in five struggle to make ends meet to the extent that they are forced to go back to work after retiring, while eight per cent are forced to use assets they had earmarked for inheritance to ease the financial strain.
But worst of all, one in five feel depressed due to their money problems, while two per cent even feel suicidal.
Furthermore, six per cent resort to gambling to try and get themselves out of a sticky situation while one per cent turn to crime.
Roger Ramsden, Prudential executive director, commented: "Retirement should be about enjoying your free time, perhaps seeing more of the family, or indeed, seeing more of the world.
"It should not be about cutting back on clothes, heating and doctor's appointments because of money worries."
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