Aviva: Over 55s reap income boost as economy recovers

The provider's snapshot of 55-75-year-olds finances found saving rates were also improving with an average £198 a month being put away. It is the best rate in three years, the firm said. Spending is also at a high of £816 a month, unsecured debt has fallen and two-thirds of over 55s own their home outright. Aviva's Spring 2014 Real Retirement Report assesses consumer finances across the UK's three ages of retirement: pre-retirees (55-64) retiring (65-74) and the long-term retired (over 75s). The report said over-55s typically receive an income of £1,373 a month - an extra £151 a mo...