Pensioner poverty on the rise
Published on 26 July 2016 09:30 AM
Pensioner poverty is on the rise in Wales according to new research by the Bevan Foundation.
Commenting, Age Cymru's Chief Executive Ian Thomas says:
"Age Cymru wants an age friendly Wales in which older people have enough money to lead a good quality of life, yet these latest figures show that 100,000 older people in Wales live in poverty.
"We are extremely concerned that despite reductions in the last decade of older people living on low incomes, Wales is now one of only three areas in the UK where pensioner poverty is on the rise.
"Of particular concern are falls in the value of private and occupational pensions, which have delivered poor returns since the financial crisis and now face further uncertainty due to the UK negotiating to leave the EU.
"This will have a long-term impact on people retiring and seeking to purchase an annuity to provide them with an income.
"I would urge anyone who is finding it hard to make ends meet and is worried about paying their bills to contact Age Cymru Advice on 08000 223 444.
"This is a free service which provides confidential and expert bilingual advice on a range of issues, including financial matters such as Pension Credit."