State pension: Households face living on just £90 payments a week as inflation rises | Personal Finance | Finance

“A rise in the amount withdrawn from a pension from £5,000 a year to £5,500 a year to cover a 10 percent rise in prices could mean a pension running out two years earlier, at age 83 rather than age 85.

“The pressure of making pension savings last is great at the best of times. During the worst of times, it becomes too much. Working again starts to look like the best option.”

Notably, the pensions analyst emphasised that many state pensioners will be living off just £90 a week in light of the pending hike to energy bills.

Ofgem has confirmed that the energy price cap will exceed £3,500 this autumn with further bill rises expected in January as well.