How much do you need to live on as a pensioner?
highland paddy
Posts: 672 Forum Member
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For example, aside from those that have paid off their mortgage, do people in council or social housing still have to pay rent or is this one less expense?
I know the state pension is too low and successive governments have done nothing to change it, but can you still live off it (I believe it's £120 per week) if you had no rent/mortgage? I suppose fuel bills are the big obstacle nowadays.
Is a private pension truly a good deal or just a potentially volatile waste of money when you are already cash strapped enough?
I know the state pension is too low and successive governments have done nothing to change it, but can you still live off it (I believe it's £120 per week) if you had no rent/mortgage? I suppose fuel bills are the big obstacle nowadays.
Is a private pension truly a good deal or just a potentially volatile waste of money when you are already cash strapped enough?
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They certainly do.
Do you mean 'live' or 'exist' ? Big difference.
The current basic state pension is £113 pw but, if that is their only source of income, many pensioners get Additional State |pension up to a total of about £145 pw (I think).
As for private/company pensions - I paid in for many years and now get, including a state pension, £650 pw. Less disposable income when I was younger now means I have a very comfortable retirement.
£650 pw? What did you work as?