Worse to come 2

And further to the previous story, another report describes how pensioners have seen the cost of the goods and services they use soar by more than a third during the past 10 years, research has showed.The rate at which the cost of living for pensioners is rising outstrips increases in Retail Price Inflation, which has risen by 32% during the past decade compared with a 36% jump in inflation experienced by pensioners.

Martin Ellis, chief economist at Clerical Medical, said:

"The average cost of living facing pensioners has risen by more than one third over the past decade.The cost of living for pensioners has increased by more than that for all households during the period, particularly in the last five years."