Bleak future for OAPs as they rely on state pension

BRITONS are still relying on the state pension for most of their retirement income, which means that they are increasingly feeling the squeeze, as the age at which it is paid starts to climb.

The days of claiming the state pension on your 65th birthday are done as the retirement age climbs to 66 between now and October 2019, and then to 67 from 2026.

Women, carers, those with health problems or in manual jobs run the risk of poverty as many will struggle to carry on working until the higher age.

Far too many are unaware of the challenge as one in four aged between 50 and 64 have no idea when their state pension kicks in, according to Age UK.

Campaigners have renewed calls for the state pension to be made more flexible, so people can claim earlier in cases of hardship.

The state provides nearly £6 in every £10 of income received by the over-65s comes from the state, rising to £9 for those on low incomes. »