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Living on £13.18 per day

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money (1)AFTER A lifetime of work and years spent looking forward to a comfortable retirement, a new report shows that a very different reality awaits people in Wales, who will face a choice between working well into old age, or surviving on just £13.18 per day. 

A 12 month research project into the UK’s savings and debt habits has unmasked the true scale of the crisis that is developing in UK society today, where millions of people face a future of poverty and State-dependency in retirement, if indeed they are ever able to retire. The ‘Tackling the Savings Gap’ project by financial services firm True Potential was launched in August 2013 to examine the true state of the UK’s personal savings and debt habits., as well as preparations that individuals are making for their own retirements. The effects of the financial crisis of 2008 onwards, high inflation, government austerity, low interest rates and easy access to high cost credit through payday loan companies as well as decades of poor financial education and complicated regulations have created a Savings Gap – the difference between what people need to live comfortably in retirement and the amount they are actually on course to receive. Since August 2013, True Potential has asked more than 6,000 people from across the UK about their personal finances and provisions for retirement and the findings clearly show that a crisis in old age is looming with people saving barely a quarter of the amount they will need. True Potential asked how much money savers would need to live comfortably in retirement. Thirty two per cent of respondents said that they will require between £16,000 and £25,000 per year. To achieve an annual income of that size, they would need a fund totalling £400,000 from which to draw an annual income of £20,000 for 20 years. To reach a £400,000 pension pot requires an annual saving of £8,888 over a 45 year working life. However, the data shows that savers in Wales today are: only managing to put £2,132.52 each year towards their pension pot; building a fund of £95,963 by the time they retire from which to live on; going to have to survive on an annual income of £4,798.15 or a daily wage of just £13.18 in retirement. Nationally, men are marginally better savers than women, but the situation remains bleak for all. Men are managing to save £3,603 per year compared to £2,260 for women. The 18-24 age group – the group with the most time to build up a large enough retirement fund – is managing to save £2,828 per year, though females in this age category are saving less – just £2,556 per year. All are well short of the target £8,888 needed to provide a £20,000 annual income in retirement. Only three per cent of Welsh savers surveyed as part of the research claimed that they would be able to survive on between £6,000 and £10,000 per year, with 79 per cent saying they would need at least £11,000.

 

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    October 9, 2025 at 1:49 am

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Community

Community football club raises £1,000 for Withybush Hospital

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A COMMUNITY football club has raised £1,000 for Ward 10 at Withybush Hospital following a successful charity guest speaker night.

New Hedges Saundersfoot United Football Club organised the annual event at the Regency Hall in Saundersfoot on Saturday (June 28), welcoming supporters for an evening of entertainment and football stories from former Liverpool goalkeeper Bruce Grobbelaar.

The club said the event was held in memory of Gareth Allen, a much-loved former player who died in 2023.

Simon Brace and Stuart McLaren from the club said: “New Hedges Saundersfoot United Football Club is a local amateur junior and senior football club serving the Saundersfoot community.

“This year’s event was organised in memory of Gareth Allen, a much-loved former player of the club who sadly passed away in 2023. We wanted to honour Gareth and show our appreciation for the care he received by donating the proceeds to Ward 10 at Withybush Hospital.”

Katie Hancock, Fundraising Officer for Hywel Dda Health Charities, thanked the club for its support.

She said: “Thank you so much to Simon, Stuart and everyone at New Hedges Saundersfoot Football Club for selecting Ward 10 as one of the beneficiaries of your charity night.

“Your generosity is a lovely tribute to Gareth, and the donation is truly appreciated by the team on Ward 10. We are so grateful for your amazing support.

“The support of our local communities enables us to provide services over and above what the NHS can provide across the three counties of Hywel Dda, and we are extremely grateful for every donation we receive.”

For more information about the charity or how to support local NHS patients and staff, visit www.hywelddahealthcharities.org.uk.

 

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Local Government

Tenby harbour dredging work scheduled

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VISITORS and harbour users in Tenby are being asked to take care while dredging work is carried out at the harbour entrance next week.

Sand will be removed from the mouth of Tenby Harbour and deposited at the northern end of North Beach. The work is not expected to affect vessel movements in the harbour.

Operations will begin on Monday (Mar 16) and are scheduled to continue until Wednesday (Mar 18).

Tenby Harbourmaster Chris Salisbury confirmed that the necessary licence for the dredging work is in place.

He said: “We ask that members of the public keep clear of the operating area while the machinery is in use and that dogs are kept on a lead during this time.”

Cllr Rhys Sinnett, Cabinet Member for Residents’ Services at Pembrokeshire County Council, said the work was essential to keep the harbour functioning properly.

“I’m grateful to our officers for carrying out this work at Tenby Harbour,” he said. “The dredging is essential for the continued operation of the harbour.

“The timing has been dictated by the tides, and these dates represented the final opportunity to complete the work before boats are returned to the water.”

 

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international news

UK urges allies to keep pressure on Russia despite US easing oil sanctions

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THE UK GOVERNMENT has urged its international partners to maintain pressure on Russia after the United States eased sanctions on some shipments of Russian oil already moving through global markets.

Downing Street said Britain would not follow the US move and insisted sanctions remain a key tool in limiting Moscow’s ability to fund its war in Ukraine.

The US Treasury confirmed that certain cargoes of Russian oil already in transit would be allowed to continue to their destinations. Officials described the step as a “targeted, short-term measure” designed to help stabilise global energy markets during rising geopolitical tensions.

The announcement comes as oil prices surge amid escalating conflict in the Middle East. Iran has threatened further disruption to shipping through the Strait of Hormuz — one of the world’s most important oil transport routes — following ongoing US-Israeli strikes in the region.

Attacks on energy infrastructure in Gulf states have also contributed to uncertainty in global supply.

A spokesman for Prime Minister Sir Keir Starmer said the UK’s position remains firm.

“All partners should maintain pressure on Russia and its war chest,” the spokesman said.

“Our support for Ukraine is degrading Russia’s ability to wage war, both militarily and financially.”

Energy Minister Michael Shanks also stressed that sanctions remain critical to weakening Russia’s ability to sustain the conflict.

“This is an absolutely critical moment in the Russian aggression against Ukraine and sanctions are important,” he said.

“What we cannot have is Putin sitting in the Kremlin thinking this is an opportunity to invest more in the war machine.”

European leaders have also expressed concern about any relaxation of sanctions. German Chancellor Friedrich Merz said easing restrictions now would be “wrong”, while French President Emmanuel Macron warned tensions in the Middle East should not become a reason to soften measures against Russia.

Ukraine’s president Volodymyr Zelensky previously warned that easing sanctions would be a “serious blow” to Ukraine and could allow Russia to strengthen its military capabilities.

Milford Haven connection

The issue carries particular significance in Pembrokeshire because of the role the Port of Milford Haven plays in the UK’s energy infrastructure.

In the early days following Russia’s invasion of Ukraine in 2022, vessels carrying Russian fuel became the focus of controversy across Europe.

One tanker transporting Russian diesel that had been expected to unload in Milford Haven was later diverted to Antwerp amid political pressure and uncertainty over sanctions.

Another vessel carrying Russian crude did berth in the Milford Haven Waterway and unload at the Valero refinery terminal before the UK introduced a full ban on Russian oil imports later that year.

Across the UK, some energy workers refused to handle Russian cargoes during the early stages of the conflict, forcing certain tankers to divert to other European ports.

Large oil tankers arriving in Milford Haven berth at deep-water terminals and refinery jetties along the waterway rather than traditional docks, allowing the port to handle some of the largest vessels operating in European waters.

The waterway remains one of the UK’s most important energy hubs, handling crude oil, refined fuel products and liquefied natural gas imports.

Impact on fuel prices

The rising price of oil is already feeding through to motorists and households, with petrol prices climbing and heating oil costs increasing in recent weeks.

Energy Secretary Ed Miliband warned that regulators would intervene if energy companies attempt to exploit the situation by raising prices excessively.

“We will not tolerate rip-offs,” he said, adding that the competition watchdog is ready to act if necessary.

Opposition parties have meanwhile called on the government to cancel a planned increase in fuel duty scheduled for September if the crisis continues.

With tensions rising both in Eastern Europe and the Middle East, ministers say global energy markets could remain volatile for some time — with potential consequences for fuel costs and supply security across the UK.

 

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