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
For further information please contact:
Helen Morrissey, Corporate PR Specialist – Long Term Savings
- Email: firstname.lastname@example.org
- Tel: 0203 272 5433
- Mob: 07919 170 712
About Royal London:
Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £138.9 billion, 8.6 million policies in force and 4,126 employees. Figures quoted are as at 31 December 2019.