07 February 2020

We must act now to combat rise in pensioner poverty

3 min read

 
Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings

Share

Helen Morrissey, pension specialist at Royal London comments on the Joseph Rowntree Foundation’s UK Poverty 2019/20 Report published today

“It is disappointing to see that after years of decline today’s report shows that levels of pensioner poverty are on the rise. We must not allow the good work done to reduce poverty to unravel and need to act now to prevent future generations from facing this threat. How people live and retire has changed markedly, with more people renting into retirement, and people need flexibility to meet these costs. While auto-enrolment has got more people investing in a pension we need to revisit minimum contributions to help people generate a decent level of retirement income. Pensioners will also need the flexibility to continue to work if they wish or need to.”

-ENDS-

Notes to editors

  1. The report can be downloaded here: https://www.jrf.org.uk/report/uk-poverty-2019-20

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London:

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £138.9 billion, 8.6 million policies in force and 4,126 employees. Figures quoted are as at 31 December 2019.