EBRI: rising poverty among pensioners as bad economy depletes assets

The percentage of older Americans living below the poverty line has steadily grown since 2005, and many are falling into poverty as they age and spend down their savings, especially on costs of health care and nursing homes, according to a April 2012 EBRI (employee benefit Research Institute) analysis of a study health and retirement.

Poverty rates between 2005 and 2009, began to rise in correlation with the economic recession; During this period fell more seniors in poverty, with single women faced with higher rates of poverty in comparison with other seniors blacks and Hispanics.

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