An increasing number of older people are forced to work beyond pension age due to rising housing costs. Around one in five individuals aged 55 and over on low incomes express a desire to retire but cannot because of housing costs. Rising rents and a shortage of social housing exacerbate this situation. Research indicates that future pension-age individuals may receive £800 less annually than current pensioners by 2050. Private rents also continue to escalate, significantly impacting housing security as rental costs have increased by an average of £221 per month over the last three years.
Nearly one in five people aged 55 and over and on low incomes say they want to retire but can't because of housing costs, according to a survey by Crisis.
Campaigners for older people have recently raised the alarm over pension-age incomes being insufficient to cope with cost of living pressures.
Age UK research shows that people looking to retire in 2050 are set to receive £800 less per year than current pensioners.
Rising rents have contributed to an increase in housing insecurity, with private rents rising an average of £221 a month over the past three years.
Collection
[
|
...
]