I don't know what the state pension is, but I know it is not much. I can only speak for my grandparents. My grandfather retired in his 50s when an old war injury became too much for him. Nonetheless, he and my nan (through working all the hours god sent) managed to buy their council house. Now at 84 and 86 they live on their state pension. That has to buy EVERYTHING. Repairs to their roof (needed recently), keeping the car (a 12 year old Skoda), a new washing machine (again recently needed), repairing the garden fence and a new shed after next door's tree collapsed on it (yes I know they didn't need to pay for this because it was next door's fault and I am currently dealing with the legal issues for them) etc. They will not accept money off us but I can provide legal/letter writing for them, my sister cooks for them if Nan is ill and my brother rocks up and does house repairs for them so I suppose they have more than most.
So B00 makes a fair point. For every day living, they cope. But on the other hand for anything major they have a problem. When they were burgled last year (and the sods took the small amount of cash they kept and my grandmother's small amount of jewellery), the insurance company refused to pay out (that was until BM and Mother of BM got involved - the latter is REALLY scary!). We really fel they were being taken advantage of because of their age.
However they save, and they save hard. And every Christmas they give a very generous Christmas present to their only daughter and their 3 only grandchildren. Every year we object and make the point that WE should look after THEM. Every year we are told to shut up and "at our age, we will do as we please".
We are very lucky to have them. But there are many many old people out there who have no one. My neighbour is a case in point. Her husband died 20 years ago, and she has no children. Who is there for her?