One in seven over 65s consider renting spare room as they struggle to live off pensions

Some 15 per cent are seriously becoming landlords as a way of supplementing their income, according to the survey More Th>n Home Insurance. This would equate to 1.6 million properties across the UK.

The basic state pension will rise by £2.97 a week this year to be worth £113.12 a week.

But despite a fall in inflation in December, prices are still rising more than twice as fast as the rate of pay.

And although there was a slowdown in the increase of fruit and meat prices, hikes in gas and electricity bills as well as rising petrol prices mean householders will continue to feel the squeeze.

It comes months after figures showed the UK is second only to Estonia among European countries for the number of people struggling to pay their energy bills.

There are more than five million UK households living in fuel poverty, with people spending more than ten per cent of their income on energy to keep warm.

Members of fuel poverty alliance Energy Bill Revolution have written to Prime Minister David Cameron demanding that party leaders act on the “national scandal”.

Age UK said least three million older people were worried about staying warm indoors this winter, with six million anxious about rising fuel bills.

Another new study by the Pensions Advisory Service found that women in particular fear they will struggle with finances during retirement.

Some 76 per cent do not believe they will have enough income to be financially comfortable once stopping work.

Matthew Poll, of More Th>n, said: "After years of working, being forced to become a landlord after retiring is far from an ideal situation.

"But it's clear many people are considering this to provide additional financial support.”

However, the survey found more than half of pensioners considering renting out a room did not understand the responsibilities involved.

Many were unaware they could run professional checks on any prospective lodgers, while others would not guarantee a lodger signed a formal contract or lodger agreement when they moved in.

From 2016, around 40 million people currently of working age will receive the new single-tier pension, which will simplify the state pension arrangements.

It will run alongside the Government's landmark plans to automatically enrol people into workplace pensions.

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