28 March 2019

Fall in pensioner incomes shows rising prosperity of elderly cannot be taken for granted

2 min read

 
Helen Morrissey, Personal Finance Specialist

Helen Morrissey

Corporate PR Specialist – Long Term Savings

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Helen Morrissey, pensions specialist at Royal London, said:

“After years of rising incomes, this year’s figures show that pension incomes have fallen. The typical pensioner couple is eleven pounds per week worse off than last year. As traditional final salary pensions continue to decline there is a risk that pensioner incomes will stagnate unless more is done to make sure that those who are in work are saving more towards their retirement. Rising prosperity among the elderly cannot be taken for granted”.

Notes to editors:

Data can be found in table 2.1 of Pensioner Income Series: Financial Year 2017-18

https://www.gov.uk/government/statistics/pensioners-incomes-series-financial-year-2017-to-2018

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £130 billion, 8.8 million policies in force and 4,046 employees. Figures quoted are as at June 2019.