UK ministers seek to alleviate financial concerns during retirement living

While some are using property and other investments to defray costs, the EU statistics bureau recently found that more than a quarter of older persons in the UK are living on income below the poverty level.


The government is working to improve those statistics finding with a review of the lower spending abilities of the elderly to remediate the placement of Britons below Romanians and other Eastern European co

untries, reported the Daily Mail.


Statistics also show that the decrease in income for older persons when the elderly during the transition from employment to retirement in the UK is the largest among all EU countries, with retirement income at 70 percent of the level of former workers' final paychecks.


"What this report clearly shows is that‚ even before the recession set in‚ many older people weren’t keeping up with the pace at which the general wealth of the nation has increased over the past years," Michelle Mitchell‚ Age Concern charity director, said.


She and other advocacy organization heads are hopeful that new government efforts may help less affluent old age pensioners avoid the possibility of having to make choices between purchasing food or other essential items.


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