Sheila Cornell, an 80-year-old retiree, relies on the state pension as her sole retirement income and struggles to make ends meet. With no savings or investments, she had to rely on a small electric heater instead of turning on her radiators during the winter. Despite owning her house outright, the state pension of £156 a week is not enough to cover her expenses.
Sheila Cornell, who lives alone in a small house in Lincolnshire, relies on the state pension and says she wasn't able to turn her radiators on last winter. Many Britons are retiring with almost no savings, few investments and no income aside from a weekly state pension of £221 or less. In fact one in five rely on the weekly payment as their sole retirement income, according to financial services firm Abrdn.
Sheila Cornell, who lives alone in a small house in Lincolnshire, is one of these people. During this winter she didn’t turn her radiators on once, relying on a small electric heater to keep warm. With no family to offer support and just a basic state pension of £156 a week in addition to pension credit, the 80-year-old describes her financial situation as “very uncomfortable”. It helps that she owns her house outright, she said, but the state pension is not enough to keep her head above water. “I’ve already cut back on everything,” Sheila, a former legal secretary, sai
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