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Golden Years: Pension Payouts Rocket By Almost £1,000 A Year

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http://www.express.co.uk/news/uk/486417/Pensioner-Income-What-is-the-average-UK-Salary-Pension-Retirement-UK-Over-65s-Work

After years of worrying over paltry returns on their savings and rising bills, older people are finally seeing the financial pressure ease.

In 2011/12, the average weekly income for pensioners was £460 but, according to figures released today, with more people working past the traditional retirement date, it rose in the following 12 months by £17 a week.

The increase of £884 a year put the average pensioner on £24,804 – just short of the average salary at £26,500.

It is the first time in three years that pensioners’ incomes have been recorded as going up faster than inflation.

The Department for Work and Pensions figures show that since 1998/99 pensioners have seen their net income grow faster than the population’s as a whole.

..

Eddie O’Gorman, of retirement specialist The Way Group, said: “The dark days of the recession are now behind us and the fact that more over-65s are able to secure work means they can boost their Basic State Pension entitlement.”

Happy days pensioners are working.... And the dark days of the recession are behind us!

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It's a bit of a spinning article.

They're categorizing everyone over the age of 65 in the UK as pensioners because they'll mostly be getting some small state pension (some over 65s won't be but they'll still be put under that category) and because they're boosting their inadequate pension through work that work income is being described in the article as "pension payouts" and for the cherry on top they're being described as rocketing (well they would be - it's just a surprise they haven't reached escape velocity already).

If you don't laugh you lucky people.

Of course the UK's general election is in the offing.

Edited by billybong

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Not so much spin, as just plain incoherent.

That as well.

It really needs a spinning/incoherent emoticon to sum it up.

Edited by billybong

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http://www.express.co.uk/news/uk/486417/Pensioner-Income-What-is-the-average-UK-Salary-Pension-Retirement-UK-Over-65s-Work

Happy days pensioners are working.... And the dark days of the recession are behind us!

A poorly written advertisement by The Way Group if ever I've seen it.

Let's assume that by 2011/12 they mean the UK tax year. So for the year ending 06 April 2012 weekly pensioner income was £460. Then by the 06 April 2013 it had risen by £17 which is 3.7%. Over the same period inflation ran at 2.9%. So our pensioners are better off by a whole 0.8%.

It's hardly older people "finally seeing the financial pressure ease."

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The pensions working part time in ASDA seem quite happy, it keeps them busy and coherent. IMO better than going seanily in frot of the TV.

There will be a young person in need of an entry level job who would have more to gain from it. Older generation workers may well be more reliable but that will partly come from experience in the workplace which is being denied to the younger generation.

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this is the Express :wacko:

a load of tosh - stats being manipulated - have to ask where is my £460 a week (obviously I am not average)

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