The official inflation rate in the UK does not reflect the reality of the situation facing many pensioners, it has been claimed.
In news that may be of interest to those seeking older person housing schemes for themselves or a family member, Age Concern made its assertion following figures released by the Office of National Statistics earlier this week.
The charity explained that millions of elderly Britons were now having to cope with rising energy and food prices.
This meant that the average pensioner could expect to experience an inflation rate of 7.4 per cent, which may leave them struggling to afford basic lifestyle outgoings.
"With the cost of living sky-rocketing, the government should be taking the real rate of inflation for pensioners into account when updating next year’s basic state pension and pension credit," it was noted.
In the meantime, the charity urged that the government should respond to exceptional times by introducing an emergency package of measures to help the most vulnerable pensioners through the winter.
Meanwhile, Gordon Lishman, director general of Age Concern, advised older persons that failing to save may leave the reality of their retirement short of many individuals’ expectations.
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