Kirsty Mears: Advisers should focus on the pensioner income gap

Later-life planning

clock • 3 min read

With a third of pensioners now among the poorest 10% of the UK population, says Kirsty Mears, advisers need to get clients to understand that later life planning is not just limited to their finances, investments and pensions

It is perhaps only to be expected that, when we reach pension age, we will take the hit of having a reduced income. Recent research has found, however, that within the poorest 10% of the UK population, a third are pensioners. What is more, although we know there has always been inequality in pensioner incomes, the gap has increased even further over recent years. Those at the lower end of the scale saw a decrease of 0.73% in their incomes, while those at the top saw an increase of 10% over the same period. This makes the total gap between the highest and lowest earners in this age group ...

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