Average pensioner income trebled since 1977
The ONS recently reported that the average annual income for retired households had almost trebled between 1977 and 2016 but had only doubled for working households for the same period. The results showed that the average retired income from all sources (the aggregate total of employers pension schemes, personal pension arrangements and State Scheme pensions) had increased from £10,500 p.a.to £29,000 p.a. and that for working households the average income only increased from £20,200 p.a. to £41,900 p.a.
However, retired workers relying only on State pension benefits have not experienced the same level of increases as those receiving additional retirement incomes from employer or private pension arrangements.
The ONS said “disposable income of pensioners has on average risen by 2.8% a year in real terms since 1977, compared with 2.1% for non-retired households”.
