Half a million OAPs pay price of rate cuts

This is the title of a very disturbing article by Olinka Koster of the Daily Mail, reporting on statements from the National Pensioners Covention. In this she points out that the country's 8.5m pensioners with savings have lost massively through the base rate collapsing from 5% in October to 0.5% last week. This, they claim would push a further 50,000 older people below the poverty line - bringing the total in the past six months to an estimated 500,000.