Oldest and poorest worst hit by inflation
The oldest and poorest UK pensioners are suffering disproportionately from inflation, with rates double that of non-pensioners.
According to the Institute for Fiscal Studies (IFS), the most impoverished pensioners have an average inflation rate of nine per cent, compared to 5.4 per cent for non-pensioners.
The Liberal Democrats say the figures prove that pensioners are struggling to make ends meet under Labour.
“They are falling further and further behind the rest of the population, hit hardest by rising fuel and food costs,” the party’s work and pensions spokesperson, Jenny Willott, said.
“This year’s rise in pensioner poverty will not be a one-off unless ministers increase the state pension and ensure more people claim the pension credit to which they are entitled,” Ms Willott continued.
“Around 1.8 million pensioners who were eligible for pension credit did not claim last year, missing out on an average of £1,543 over the year.”
According to government statistics, the number of pensioners living in poverty increased by 300,000 last year, while pensioner couples have a total pension income of £10,000.
The Lib Dems claim that the majority of pensioners are unaware of the pension credit eligibility rules and in what circumstances it is claimable.
The party also says that the government is doing little to motivate applications for state pensions, with a target to increase the number of people claiming pensions to 3.2 million dropped last year.
