Pensioner poverty has risen for more than a decade, warns LCP

The consultant's analysis of Department for Work and Pensions (DWP) data found the proportion of pensioners with a household income before housing costs that is below 60% of the contemporary median, is up 3 percentage points from 15.7% in 2012/13 to 18.6% in 2023/24, despite increases to the state pension. LCP said this represents a reversal from falling pensioner poverty rates since the late 1990s. Its report – Being single in retirement – a key issue for the Pensions Commission? – found that poverty is higher among single pensioners than for those in couples, with 2024/25 DWP data s...