Single Pensioners On Less GBP10 000

 Single Pensioners On Less £10,000

According to the Office of National Statistics (ONS), pensions provide only a modest income for many with 61 per cent of single pensioners having income of less than £10,000 for 2006/2007.  Just over 6 out of 10 single pensioners had total pension income of less than £10,000 and 45 per cent of pensioner couples had less than £15,000.  The figures also revealed that about two-thirds of pensioner households had private pension income.  The average private pension income was £11,059 for pensioner couples, while for single men pensioners it was £6,812 and for single women pensioners it was £5,519.

This is the reality of retirement.  People cannot afford to save enough and some do not save and prefer to spend and then there is not enough in retirement.  As ever, this is a constant matter for government and the industry to encourage realistic pension saving.

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