A “TICKING time bomb” of pensioner poverty has been highlighted in a report today, with research showing that levels have crept up to the highest since 2012.

Figures released by the government and analysed by the charity Independent Age show that, while poverty in the overall population has remained relatively stable, among pensioners it has increased by 5 per cent since 2012.

Almost a fifth of pensioners are now living in poverty after paying their housing costs, an estimated 2.1 million people.