Number of pensioners forced back to work rises

Rising living costs and low interest rates are forcing pensioners back to work in increasing numbers. Figures released last week by the government show that the number of pensioner households where one or members were working had risen by 0.4% over the past three months. The figures, produced by the Office for National Statistics (ONS), form part of a trend with the number of pensioners returning to work increasing over the past few years. Separate figures from the recruitment website peopleperhour.com show that number of newly retired people seeking work has more than doubled over the past year. Unsurprisingly perhaps the largest number ...

Pensioners suffer far higher inflation than younger people

New research shows that the rate of inflation for older generations is significantly higher than that suffered by their children and grandchildren. The report by Alliance Trust showed that the inflation rate for people aged between 64 and 74 is 5.1% per year, compared to the latest CPI figure for June which was 4.2%. People under the age of 30 suffer the lowest rate of inflation at 4.6% because of the relatively small amount they spend on food. They are also the group most likely to live in rented accommodation and rent inflation is running at just 2.2%. Goods & services The reason for ...