Tuesday, February 26, 2013


After a life of wage slavery in the factory or office many workers imagine that retirement will ease the burdens of poverty and anxiety , but alas capitalism doesn't work that way. 'Pensioners are at increasing risk of spending their old age in poverty, with living costs for the over-75s rising by more than a quarter in just five years. Research by AXA, the insurance group, found that people between 65 and 74 faced cost-of-living increases 5.2 per cent a year - significantly higher than the 0.3 per cent rise experienced by those between 50 and 64.' (Times, 25 February) Michelle Mitchell, director general of Age UK's Charity summed up their plight with these words. 'Steep hikes in the cost of living in recent years have left many older people on low incomes feeling forced to cut back on essential items such as food, heating and clothes.' RD

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