Can you live solely off state pension?

dealyboy

Just a coincidence but the Daily Telegraph Saturday - Money today has a little story under the title 'Retiree has living on £11k licked - even with cat treats' .

It explores a week in the life (an enjoyable life) of someone ... I won't spoil it.

Pollycat

dealyboy said:

Just a coincidence but the Daily Telegraph Saturday - Money today has a little story under the title 'Retiree has living on £11k licked - even with cat treats' .

It explores a week in the life (an enjoyable life) of someone ... I won't spoil it.

I couldn't find the article.

RG2015

Pollycat said:

dealyboy said:

Just a coincidence but the Daily Telegraph Saturday - Money today has a little story under the title 'Retiree has living on £11k licked - even with cat treats' .

It explores a week in the life (an enjoyable life) of someone ... I won't spoil it.

I couldn't find the article.

https://www.telegraph.co.uk/money/pensions/retiree-living-on-11000-year-spend-money/

It is behind the usual Telegraph paywall though.

PS. Strangely, the paywall is not there for me at the moment. Ah, I can only get part of the article, but it gives enough to get the picture.

dealyboy

@RG2015 said:

@Pollycat said:

dealyboy said:

Just a coincidence but the Daily Telegraph Saturday - Money today has a little story under the title 'Retiree has living on £11k licked - even with cat treats' .

It explores a week in the life (an enjoyable life) of someone ... I won't spoil it.

I couldn't find the article.

https://www.telegraph.co.uk/money/pensions/retiree-living-on-11000-year-spend-money/

It is behind the usual Telegraph paywall though.

PS. Strangely, the paywall is not there for me at the moment. Ah, I can only get part of the article, but it gives enough to get the picture.

Thanks RG2015 and sorry Pollycat ... I can read the article from your link. I get the digital version of the Telegraph from PressReader (library sponsored) but it will be in today's Telegraph Money section page 3.

RG2015

"Retiree has living on £11k licked"

Here are two more links, one to the lemon fool site and the other to the Telegraph article.

https://www.lemonfool.co.uk/viewtopic.php?f=14&t=41074

https://archive.ph/BUbTl

Bluebell1000

By my reckoning, our outgoings are about £1000 a month now for what I'd consider a fairly comfortable lifestyle, including a holiday, but excluding what we spend on the children and mortgage (since we aren't retired yet, and won't have those outgoings when we do retire). 

So as a couple on just state pension it would be fine for us. For one of us, they'd probably have lower expenses anyway (cheaper council tax, lower food bill, cheaper holiday) so it would be workable, but a little tighter e.g. new boiler would push it over the years budget. 

Dandytf

hugheskevi said:

[Deleted User] said:

However, many pensioners DO only have the state pension and to live and do manage to do so.

It perhaps isn't as many people as some may think - the Pensioner Income Series shows that 95% of recently retired pensioner couples have income in excess of State Benefits.

It tends to be single pensioners who don't have any income in excess of State Benefits (76% of recently retired single pensioners don't have anything above State Benefits).

Many of the group reliant solely on State Benefits will receive income in addition to their State Pension.

I have missed One of Three Pension jobs, yet I find that 76% number quite shocking!

thanks

GDB2222

To be frugal, it must help to be in reasonably good health. That makes it easier to do without a car, for instance. And, walking is great entertainment, whilst costing nothing.

WYSPECIAL

Brie said:

So £800+ a month income.  Council tax £200. Gas & electric £200+.  Water £35.  Phone, broadband £50. So down to about £300 for food and the rest.

Car?  Books?  Stuff for the garden?  Hair cuts?  Pub?  Holidays?  No - don't think it would work for us.  We don't do much but we don't want to be absolutely doing nothing.

You say “it wouldn’t work for us” which suggests a couple.
Doubling the income with another state pension but keeping the utility bills to similar figures would make it a bit more comfortable.

MarzipanCrumble

Absolutely not could I live or want to on a singal state pension!  I worked beyond retirement age to defer my SP to up it so I would never have to worry (plus DB pensions) and could spend without stress or worry within a moderate lifestyle (no long haul holidays or car every 3 years but any food / drink I want).

All quodos who those (single or partnered) who live on a minimum pension income.  I made a decision around 50 that wasnot for me.  Married but wanted financial independence so made absolutely sure I had pensions in situ and as in old SP cohort deferred at 10.+% p.a. interest for about 5 years.  

TBH my pensions and widowed pensions now take me beyond what I was earning when I retired!  Thank you 10% ish interest!