Age Concern: 'Generous' pensions needed
Age Concern has responded to research published last week claiming that many pensioners are expecting to die in debt, by calling for an increase in pensions.
In its response to the report by financial advisers Sesame, the charity also warned pensioners looking at equity release schemes as an avenue to increase their liquid assets not to take the decision lightly.
Gordon Lishman, director general of Age Concern in England, said: "We would urge older people struggling to manage to first check they are receiving all the benefits they are entitled to and explore all their other options.
"A generous pensions settlement is urgently needed to tackle the scourge of spiralling debts for today's and tomorrow's pensions."
In February this year, BBC Radio 4's Money Box programme claimed that pensioners were being offered credit cards with limits three times the average figure.
MP Susan Kramer questioned if banks were using pensioners assets rather than income to assess credit limits, though the banking industry denied this.
For advice regarding a number of methods to save for retirement, please click on our free brochures page.
Related Stories
This news is available in 