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Almost one in two pensioners can't make ends meet

At least 46.2% of elderly can't pay their bills

13 December, 15:25
Almost one in two pensioners can't make ends meet (ANSA) - Rome, December 13 - Almost one in two Italian pensioners have trouble making ends meet each month, new data showed Friday.

At least 46.2% of retirees are forced to put off paying their bills, dip into their savings, or ask family and friends for loans by the end of the month, according to a survey by the Italian Pensioners Union (SPI) and Ipsos research company. Another 24.3% are just able to make their income stretch to the end of the month, spending every penny of their pension, and 29.5% have no financial trouble and are able to save.

The survey also showed that 19.8% of pensioners have cut back "a lot" on buying necessities, 28.4% cut their spending "somewhat", 31.4% said they gave up on extras, and 20.4% of respondents have not cut their spending in any significant way.

Pensioners are also key in supporting children or grandchildren who have been laid off or can't find work, with 42.6% supporting their relatives financially, the study showed.