Pensioners turn down £248 income a year

Sarah Coles
elderly bank customer
elderly bank customer

Rui Vieira/PA Archive/Press Association Images

With money so tight for so many older people, you would have thought that those entering retirement would be willing to do almost anything to help boost their pension income.

However, research has revealed that this is far from the truth. In fact, between them, pensioners turn down an astonishing £124 million in income a year - which works out at £248 each. So what is going wrong?