HMRC data reveals 'shocking disparities' in pension income

More complex than a north/south divide

clock • 2 min read

There are 'shocking disparities' in pension incomes including within the same region of the country, according to a Royal London analysis of HM Revenue & Customs (HMRC) data.

The statistics, published on 28 March, showed while the top ten boroughs for pension income in the UK were all in London, or the South East, the bottom ten boroughs also included three within the capital and the south east region.  It found that the mean annual income for London-based pensioners was £18,400. This was bolstered by areas such as the City of London where mean pension incomes were at £37,900 annually. In Westminster, the mean pension income was at £29,500, and £26,700 per year in Kensington and Chelsea. Meanwhile, pension incomes in Barking and Dagenham averaged just £...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Why the real problems of the pensions dashboard are yet to start

Why the real problems of the pensions dashboard are yet to start

'Its aims seem not only less relevant but potentially problematic'

James Floyd
clock 23 June 2025 • 5 min read
Turning data into dialogue: Helping clients visualise retirement realities

Turning data into dialogue: Helping clients visualise retirement realities

'Data is more than just a collection of figures, it's a powerful tool for engagement'

Joshua Croft
clock 20 June 2025 • 3 min read
Average pension transfer took just 11 days at tax year-end

Average pension transfer took just 11 days at tax year-end

Origo says transfer times decreased around tax year-end with half taking seven days or less

Jasmine Urquhart
clock 17 June 2025 • 2 min read