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Pensioners are facing financial hardship as their savings fail to gain and the cost of living continues to rise, reveals one expert.

Neil Duncan-Jordan, national officer for the National Pensioners Convention, says a number of pensioners are annoyed because they were told to save for a rainy day – a decision they are now failing to get returns on.

"Council tax is rising this year, rents are rising, food prices, petrol, it’s all going up. There’s no way that pensioners can increase their income," he continues.

Mr Duncan-Jordan believes "being poor and old isn’t news", instead suggesting job cuts and other such issues tend to take over the headlines.

He adds that it is easy for pensioners to be overlooked, with those struggling able to seek debt management advice if they wish.

Statistics from the National Pensioners Convention state that between 1997 and 2006, the number of people living in severe poverty – defined as living on less than 40 per cent of median population income – increased by 600,000.

The poorest quarter of pensioner households saw their incomes rise by less than one per cent last year, it also found.

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