Minimum level of retirement income needed to prevent surge in pensioner poverty, MPs warn
Two million pensioners in the UK are currently in poverty
- Work and pensions secretary Liz Kendall has warned of a potential “tsunami of pensioner poverty” without major reform and indicated a possible increase in the state retirement age.
- The Commons Work and Pensions Committee has urged the government to establish a national strategy to combat pensioner poverty, including setting a minimum income for a dignified retirement.
- Age UK reports that two million pensioners are currently in poverty, a figure expected to rise, with the committee's report noting a significant increase in pensioner poverty since 2010.
- MPs are calling for improved take-up of pension credits, as an estimated 700,000 eligible households are missing out on up to £4,000 annually and other vital benefits.
- The report highlights long-term concerns such as people renting into later life and the strain poverty places on health and social care systems, while the government maintains support for pensioners is a priority.