Cash point

A quarter of adults are relying on discounts and subsidies to make their retirement more affordable – but many will struggle as they overestimate what help they will get.

Research from Aviva reveals a quarter think rail travel and spectacles are free for pensioners, when they are only discounted, while one in 10 think broadband and water rates are free – they’re not.

One in seven think they won’t pay council tax, and two-fifths believe it will be discounted. Only those aged 65 and over receiving pension credit or people living on their own are eligible for a discount on council tax.

Meanwhile, one in seven believe they will be given social care or be looked after in a home for free, and a third are expecting a discount.

Currently, local councils contribute towards care costs on a means-tested basis – it is not free.

Anyone living in England with capital or savings above £23,250 will have to fund all of their own social care, while those with less than £14,250 get free care.