Channel 5 captures Britain’s pension crisis as couple forced to live off £3

A couple who face the daunting reality of living off £3.50 a day once they've retired experienced the daunting reality in a new Channel 5 TV show.

Rachel Newton and partner Aaron Ling did not envisage their retirement funds to be so stretched.

And in Channel 5's new documentary Britain’s Great Pension Crisis with Michael Buerk, the pair lived for a week on just £24 a week to find out exactly how it'll feel.

Michael is examining how unprepared Brit's are ahead of their retirements.

Normally money is not that tight for Rachel, 47, who works in customer engagement and Aaron, 43, who is an aviation firefighter at Norfolk airport.

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In the clip, Felicity Hannah, a finance expert examined how much the couple typically spend on their weekly shop.

After purchasing a week's worth of shopping, that barely filled a table, Felicity said: "You've spent almost £80 on this food, and that's pretty standard for you."

After opening an envelope with the amount the couple are allowed to spend once retired, the pair were left gasping.

"That's really not a lot is it," Aaron said.

Rachel said: "No, that's really worrying.

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"That's really worrying actually, that's not a lot of money at all."

Felicity then forced the couple to re-pack the foods they simply couldn't afford on their retirement budget.

The pair were left shocked at how little they had left.

Rachel said: "We'll be thin, if nothing else.

"That's really really scary."

"I'll have to make some good soup," she quipped.

"We're going to have to do some re-thinking."

The total of £3.50 a day is all they have to survive on if the couple don’t ramp up their savings and plan ahead for when they stop working.

The couple, who live in Norwich, were filmed as part of the experiment for Channel 5’s new documentary series.

The stark reality is that many people are saving nothing for their old age and many more are not saving enough.

Britain’s Great Pension Crisis with Michael Buerk airs Wednesday December 4 and 5 at 9:15pm on Channel 5.

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