Worrying new research from the Pru shows 17 per cent of OAPs are living on under 5,000 a year.
Almost one in five pensioners retirement income does not allow them to meet their financial commitments and live a comfortable life, according to the research.
A third of pensioners live on under 7,500 per year and nearly one in five pensioners go back to work after retiring. The survey of 480 OAPs also found that eight per cent are forced to use assets they wanted to leave as inheritance. Two per cent say money worries have driven them to contemplate suicide.