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Bradford is ‘one of cheapest places to be a pensioner'
11:00am Wednesday 6th March 2013 in News
The average cost of being a pensioner in the UK is £10,020 a year – but just £8,596 in Bradford, according to new research.
Retirement income adviser Key Retirement Solutions says the city is one of cheapest places in the country to be aged over 65.
Nationally the biggest expense for pensioners comes from housing and heating just narrowly ahead of spending on food and non-alcoholic drink.
In London the over-65s spend 22 per cent more than the national average at nearly £12,300 a year compared with over-65s in Cardiff who spend the lowest at £8,180 a year on average.
Dean Mirfin, group director at Key Retirement Solutions said: “The state pension is a vital safety net but cannot deliver all the income needed so maximising income from housing wealth or retirement savings is crucial.”