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Retirees fork out £17.4bn on fuel in 2012, Saga reveals
January 11, 2013
The over-50s organisation has highlighted the soaring cost of energy
The cost of fuel may be a concern for a number of British households with retirees forking out £17.4 billion on energy in 2012.
Analysis from Saga shows that the cost of energy has soared in recent years with bills for the over-65s rising to an average annual sum of £1,355 last year, compared to £668 in 2005.
A survey of 8,500 people over the age of 50 from the organisation also showed 29% of respondents dip into their savings every month to make ends meet.
Some 58% of people questioned admitted they were concerned about the cost of heating their home this winter, while 35% claimed they were already struggling with these bills.
Director-general of Saga Dr Ros Altmann explained that incomes have not kept pace with the rise in energy and fuel costs in the past seven years.
She said: "People are spending more of their income on fuel. This is especially true for older people who are often on lump or fixed incomes or whose savings income has fallen."
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