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Pensioners will be 280 Pounds Worse Off
09/09/2011
Prudential insurance firm has recently reported that millions of pensioners will be nearly £280 worse off next year. Inflation and rock bottom interest rates are to blame for this increase in cost of living as pensioners primarily have a fixed rate of income.
Over the past 3 years, inflation has been at 3.1% - this figure rises to 4.6% for pensioners, a figure known as 'Silver RPI'.
As households in the UK are feeling financial pressure caused by high levels of inflation and subsequently higher living costs, people aged 55 years plus are facing even greater levels of inflation as they are living on fixed income levels.
Homeowners aged over 55 years who are concerned about rising living costs and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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