Pensioners have lost £4.6billion a year of vital income in the aftermath of the banking crisis, alarming figures show.
Research for the Mail found couples aged over 65 earn, on average, a third less from their savings and investments than five years ago.
In early 2008, pensioner couples who relied on interest from nest eggs earned an average £1,863 a year.
Falling interest rates and volatile stock markets reduced this to £1,219 last year, figures from financial advice firm Key Retirement Solutions show — a 34 per cent drop.
This works out at £4.6billion of lost income across the country.
More... Women and young workers remain ignorant of generous tax relief on pension savings How to make the most of a smaller pension pot: Don't stand by as your nest egg is eaten up by low rates and inflation Retiring soon? Get an annuity quoteIt was hoped a low Bank of England base rate of 0.5 per cent would encourage lending and borrowing.
But it has so far failed to revive the country's economic fortunes.