Nurse, 85, warns ‘state pension doesn’t go far enough’ as she struggles to afford rising house prices

Retirees are living ‘in a nightmare’ as they struggle to keep up with rising prices during retirement.

People who rely on their state pension and save minimally are left empty-handed each month. They struggle to pay for basic needs, as housing costs take up most of their income.

Mary, 85, spoke exclusively to GB News about her concerns for the future as mounting bills continue to eat into her minimal savings.

The retired nurse currently relies on her state pension and savings to get by, but she warned that this is “not enough at all”.

Even with the triple increases, she is still stuck with the demolition, because everything has gone up: taxes, water, gas, electricity and rent.

She said: “Sometimes I think I would be better off if I didn’t have any personal savings as I would then be eligible for more government support. This is a shame as I struggle with the cost of living; heating my home in the winter is the biggest problem.

Lottie’s research found that demand for independent living homes designed specifically for older people is at an all-time high.

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“I live in social housing. I had to wait a long time for a suitable home to become available for me; I think it was about a year.

“I live alone and as I get older my mobility has decreased so I need some adaptations in my home, such as a support handlebar. I do think the government should provide more social housing for pensioners like me.

“I do not receive any government support, except for my state pension and the winter fuel payment support. Because I have personal savings, I do not meet the requirements for additional support.

“My savings cover most of my expenses and when they run out, I don’t know what to do.”

Since the beginning of 2024, the demand for senior housing has increased Later Living MarketplaceLottie is up 88 percent.

Lottie’s data shows that three in 10 adults aged 65 and over are looking for housing options that accept financial support from their local government, as access to affordable housing becomes increasingly difficult, especially for retirees on fixed or limited incomes.

The latest government data shows the average weekly income of pensioners is £327 (or £1,548 a month).

The average cost of renting a property in the UK is £1,301. This means that housing costs, excluding bills and utilities, account for 80 per cent of a pensioner’s monthly budget.

The new government has committed to several housing measures, including prioritising the development of social housing and helping to build 1.5 million new homes over the next five years.

However, an expert warns that a lack of suitable housing for the elderly could lead to a welfare crisis later in life.

Will Donnelly, co-founder of Later Living Marketplace Lottie, explains that the lack of policy around housing for older people is “concerning”.

He said: “As well as the housing sector, Keir Starmer’s new government must strike a balance between investment in areas where the greatest population growth of adults over 65 is expected and areas with the lowest supply of homes for retirees.”

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Lottie’s research shows that the demand for independent living homes designed specifically for older people is greater than ever.

But with housing shortages and the cost of living crisis, more retirees than ever are struggling to find affordable housing.

Britons are being urged to consider all options when planning for their retirement, including housing and healthcare.

People who rent a home and are still paying off their mortgage should think carefully about how they want to continue paying for their pension. Think for example of an AOW benefit, a private pension, a company pension, etc.

Senior housing provides health and well-being benefits in later life, such as safety and security, community connection, and access to appropriate levels of care and support as we age.