Pensioners survive on handouts from children
Pensioners are being forced to rely on handouts from their children in order to survive, a new survey has discovered.
The research, commissioned by Prudential, claims that the average "pocket money" for grandparents is £30 per week, a sum that amounts to around £1,554 per year.
The Prudential claims that if parents spend 20 years in retirement, children could end up paying out as much as £30,000 each year in support.
Around 66 per cent of people questioned said that the support they gave to their parents meant they invested less for their own future, and 23 per cent added that they even took out a loan.
The most common ways of helping out were buying groceries, paying bills and paying for home maintenance, although these odd jobs contributed towards 70 per cent of children sacrificing their own leisure activities.
Prudential warns that this trend is only set to continue as life expectancy grows and more people retire on limited means.
The situation could also be further exacerbated by the fact that 40 per cent of Britons don't feel they are saving enough for their retirement. | 
