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Government Report Shows Pensioner Average Incomes Stalled

Pensioners’ income have begun to stall, with pensioners earning little more last year than they would have seven years ago according to official data just published by the Department for Works and Pension (DWP).

Pensioners had an average income (after deduction of tax and housing costs) of £304 per week (£15,868 per annum) in 2017/18, which saw “little movement” since 2010/11, when it stood at £297 per week (adjusted for inflation). The average income for pensioner couples was £454 per week (£23,698 per annum) last year, which is more than twice that of single pensioners, who had an average income of £213 per week (£11,118 per annum) .The DWP data also shows that 64% of pensioners households where the head was over age 75 were single pensioners.

Single male pensioners had higher average incomes than single female pensioners in 2017/18. Single men had an average weekly income of £233 compared to £206 per week for single women.

The full DWP report can be viewed by clicking on this link:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/790535/pensioners-incomes-series-2017-18-report.pdf