Retirees are being forced to consider every last penny (Image: GETTY) More and more retirees are having to make brutal decisions around their finances to avoid spending their last years on the brink of poverty. Particularly those in care homes and requiring assistance face mounting costs that their state pension payments can’t keep up with. One pensioner, David Smith, shared his story with i as the 89-year-old is being forced to consider cutting back on the “vital” care he receives as it becomes unaffordable.

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Log('[Load] OVP flagTcfLoaded',new Date())}else{document.addEventListener("tcfLoaded",()=>{loadOvpScript()ExpressApp.Log('[Load] OVP tcfLoaded',new Date())})}},1500)}) The retiree is still receiving the old state pension , for those who reached state pension age before April 6, 2016, as well as £30 a week from a workplace pension.

This rate is currently at £169.50 a week, a far step below the £221.20 per we.