Pensioner poverty is at a record low level

Pensioner poverty is at a record low level, according to a study from the New Policy Institute. The annual report Monitoring Poverty and Social Exclusion written for the Joseph Rowntree Foundation showed retirees have the lowest poverty of any age group.While working-age family types have seen a fall in household income, pensioner families saw their incomes rise over the period.The average (median) pensioner income rose by 20 per cent for couples and 17 per cent for single people.Meanwhile incomes for the poorest tenth of pensioners rose by 16 per cent for couples and 5 per cent for single people. {desktop}{/desktop}{mobile}{/mobile} The report stated: "Pensioner poverty is now at a record low level; from having a greater risk of poverty than the rest of the population in the 1980s, pensioners now have the lowest poverty of any age group."But as that has happened, poverty among working-age adults has risen, and has never been higher than it is now." The pensioner poverty rate showed it had changed for the better over both a five and ten year period.The greatest fall in household income was for single males without dependent children, a fall of 12 per cent for the median and 18 per cent for the poorest tenth.These falls amounted to £49 per week at the median and £23 per week for the bottom tenth. There were similar sized falls for single women without children, and smaller falls for couples without children. The Joseph Rowntree Foundation said the report was the most up-to-date and comprehensive guide to the state of the nation ahead of the General Election in 2015.Overall it showed a big rise in the proportion of adults under 25 in poverty, and a big fall among the over 75s.It also found more people in poverty living in working families - meaning as many are now in working families as workless ones.

Pensioner poverty is at a record low level - report

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