DWP issued warning over 'incredibly complex' pension system amid 'unacceptable' poverty

The Department for Work and Pensions (DWP) has increased the amount of money that retired people receive through the State Pension this month to over £11,500 per year - but research has found that around one in five pensioners are still living in poverty, despite the large rise in payments, with many being forced to sell all or part of their homes to fund their golden years.

Despite the 8.5 per cent increase to the State Pension in April, which brings the rate to £220 per week for those over the age of 66, research from the Centre for Ageing Better has revealed that 18 per cent of pensioners are still living in poverty amid high energy and other living costs.

These cost pressures have been previously called the "great unretirement" as older people are forced to find other sources of revenue, or to sell their properties, just to maintain a standard of living in their later life. A problem that is likely to get worse, with a sharp increase in Brits withdrawing from private pensions amid financial instability and the rising cost of living.

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There is more help out there for pensioners who are struggling to make ends meet, including the top-up Pension Credit, help with housing costs for private renters, and free TV licences. But one of the best ways to ensure a smoother retirement is still to build up savings through a private pension or savings account.

With confusing terms like the "triple lock" being bandied by both political parties ahead of this year's General Election, the Get Britain Pension Ready campaign is urging the government to provide unwavering stability and simplified communications on all pension reforms going