Income Growth Inequities Among Pensioners According to IFS Report

Tuesday, 23 July 2024, 06:00

A recent report by the Institute for Fiscal Studies (IFS) highlights significant disparities in income growth among pensioners. While the average income for the poorest pensioners has only increased by 5% since 2011, wealthier individuals aged 66 and over have enjoyed a 12% rise, with workers seeing an impressive 13% gain. This raises concerns about the underlying economic conditions affecting the most vulnerable members of society.

Daily Mail — Income Growth Inequities Among Pensioners According to IFS Report

Income Growth Disparities

The IFS report reveals that the average income growth for the poorest pensioners is significantly lower than that of their richer counterparts.

Key Findings

Poorest pensioners experienced a 5% income increase since 2011.
Individuals aged 66 and over had an average income increase of 12%.
Workers enjoyed a 13% rise in their incomes.

Conclusion

This report underscores the growing income inequality among pensioners, suggesting that policy measures may be needed to address the financial strain on vulnerable populations.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Income Growth Disparities

Key Findings

Conclusion

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