Spending tends to fall sharply as we get older as you may go out less and you may not drive as much as you once did. Ms Morrissey said: “State Pension incomes may have surged this year but still come nowhere near meeting our retirement income needs.
Cost of living nottingham uk full#
Helen has warned before that people do not receive anywhere near the full amount of State Pension and there are currently 1.8m people receiving less than £100 per week - with the vast majority of those women who have accrued large gaps in their National Insurance contribution history due to time taken away from the workforce to care for family. Is the government doing enough to help with the cost of living? Let us know Helen Morrissey, head of retirement analysis at Hargreaves Lansdown warns that despite the 10.1 per cent increase to State Pension payments this year, they still come “nowhere near meeting our retirement income needs.” As reported by the Daily Record, this compares to an overall average weekly spend across all households of £528.80.
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