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Briefing Note 6 - Why are older pensioners poorer?
Older pensioners have an income which, on average, is significantly lower than that of younger pensioners. Older female pensioners are particularly badly hit: the median gross weekly income of the 1 million females aged over 80 is £109. If part of the role of the state pension system is to provide guaranteed security for old age, the current system is failing. But why are older pensioners poorer? And will this change?
This Briefing Note looks at whether this is a generational matter and whether all people are likely to get poorer with age. It also looks at potential policy issues, including an age addition for the oldest pensioners.
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