post-title Pensioner incomes ‘outstrip those of working families’

Pensioner incomes ‘outstrip those of working families’

Pensioner incomes ‘outstrip those of working families’

Typical pensioner incomes now outstrip those of working-age people, a report from the Resolution Foundation says.

Pensioners are also now more likely than their predecessors to still be in work, own a home and have access to generous private pensions, it adds.

The think tank says growth in pensioner incomes has been coupled with weak income growth for working-age people.

Pensioner households are now £20 a week better off than working age households, but were £70 a week worse off in 2001.

However, the report, called As Time Goes By, adds: “This strong growth is not the result of a boom time for all pensioners, with most finding that their personal situation changes little from year-to-year. ”

It says while typical incomes across the pensioner population have grown by more than 30% since 2001, the typical income of someone who turned 65 in that year was only 7% higher by 2014.

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