Pensioners Hit Hardest By £9BILLION Welfare Spending Cuts

Savage spending cuts will soar to nearly £9billion a year, hitting pensioners hardest, a shock report reveals. The study shows PM David Cameron has broken his pre-election pledge to protect the elderly, with a quarter of welfare cuts falling on pensioner households. The Tory-led Government’s biggest cut is a £3.8billion-a-year reduction in pension credit, which tops up weekly income to a guaranteed minimum. Other cuts include a £138million-a-year reduction in the value of attendance allowances – paid to those who look after relatives – and £340million off disability living allowances for OAPs. A large chunk of the losses comes from switching the inflation measure used to set benefits each year from the Retail Prices Index to the lower Consumer Prices Index. Read more on the Sunday Mirror website.

Older Homeowners Being Put Off Downsizing

A growing number of older homeowners want to downsize their home but many are being put off by the lack of housing options for older people and the difficulties of moving, new research has revealed. As house prices rise, downsizingdirect.com says that nearly three-quarters of its enquirers aged 55-79 want help selling their home and buying/moving to a smaller property. But 24% say they are put off by the lack of housing options; 19% by the hassle and cost of moving; 14% by having to de-clutter their possessions; and 14% by family reasons such as staying close to children and grandchildren. In the UK it’s estimated that only one in ten older people downsize, while one in five pensioner households in the USA do so. Read more on 24dash.