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

Steve Webb: Sceptical advisers should not give up on pensions dashboard

Steve Webb: Sceptical advisers should not give up on pensions dashboard

‘A big mistake to underestimate the impact it will have’

Jenna Brown
clock 03 July 2025 • 3 min read
What role can advisers play in closing the gender pension gap?

What role can advisers play in closing the gender pension gap?

Advisers are uniquely placed to influence the gender pension gap

Olivia Perry
clock 02 July 2025 • 7 min read
TPR cross-sector working group initiative to 'bring pensions into the digital age'

TPR cross-sector working group initiative to 'bring pensions into the digital age'

Regulator intends it to be a ‘pivotal force’ in shaping the future of pensions

Holly Roach
clock 02 July 2025 • 3 min read