Eight million pensioners suffering from low interest rate

The group says pensioners should consider other way of supplementing their income, believing base rates will remain low for some time. Research from the Office of National Statistics and the National Pensioners Convention suggest around 8 million retired people rely on savings income for day-to-day expenses. The average retired person has around £37,000 in savings, according to SHIP, and will have seen interest earned fall by almost £150, equivalent to about 28% of their income including state pension. A pensioner couple with around 75,000 in savings will have seen their monthly savin...