With the credit crunch forcing prices up, and pensioners around the country being forced to cut back on outgoings, many are now struggling to cope. The squeeze on credit has reportedly strongly affected many with pension schemes in the UK, a survey by Skipton Building Society found.
The Credit Crunch Britain survey indicates that women are being more cautious than men in cutting outgoings, and that there is regional disparity in how badly those living on pensions are being affected.
The MD of Skipton Building Society, Steve Haggerty, reportedly commented: "It is clear that the credit crunch is having a marked impact on UK consumers’ spending. But the fact that almost a third of adults have not cut back on their spending at all, suggests that either they are financially strong or that they see the current economic climate as short-term."
Pensioners struggling to cope
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