Happy retirement for the average OAP

Category: All&Pensions

Income data from the Office for National Statistics is likely to add fuel to the intergenerational fairness debate. Retired households have seen their income surge by almost 60% in the past 13 years, far outstripping the increases received by those in work.

The average pensioner’s household income was £27,283 last year, an increase of more than £10,000 or 59% since 2005-06.

By contrast, the typical working household’s earnings rose by only 36% over the same period, to £36,332.

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