Jun 18 2008
The latest rise in inflation rates around the country is "pummelling pensioners" as they struggle to pay for everyday necessities, it has been claimed.
According to the figures from the Alliance Trust, people aged 75 and over are among those being most acutely affected by inflation, which picked up notably for the UK as a whole last month.
Prices of petrol, food and energy were all found to have increased significantly in May and since the same period of last year.
The news could encourage some people to redouble their efforts in saving for retirement and to prepare more fully for their financial future.
Shona Dobbie, Head of the Alliance Trust Research Centre said: "Our study continues to highlight the extent to which inflationary pressures are hitting the elderly hardest.
"This is because the over 75s are the most exposed to the negative impact of high food and utility prices."
Engage Mutual Assurance reported recently that millions of British adults are worried that their parents have not saved enough money to provide for themselves during retirement.
