£5.4bn in 'pocket money' annually for pensioners

A survey conducted by Prudential has found the average financial handout per month is up to £120 by UK adults to their parents in retirement. The survey also finds more than half of respondents who support their parents provide them with their groceries, while half pay their utility bills; with four in ten adults buying their parents clothes. The insurer says three out of ten people who support their parents financially, do so through a direct allowance, with many cutting the provision to their own future do so, while some even go into debt to ensure their parents are looked after. ...