Pensioners better off than 20 years ago, says report

Pensioners are finding it easier to make ends meet than 20 years ago, according to figures released on Tuesday by the government’s socio-cultural policy unit SCP.

The figures show that average income for those aged 65 and above has risen more than that of people aged between 35 and 64. The increase for pensioners was 23% between 1990 and 2010, compared with 17% for the 34 to 64 year olds.
The SCP report says 63% of pensioners said they could easily make ends meet, while 58% of the younger age group could manage easily on their income. In 1990, the percentages were 41% and 49% respectively.
The difference lies mainly in the increase in the net state pension (aow) during the period, says the SCP. Pensioners are also more likely to have a private pension.
However, despite the higher income, older people are spending less, making savings on transport, trips and new furniture, says the report.
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