§ Mr. DenhamTo ask the Secretary of State for Social Security if he will estimate the percentage of pensioners who will have an income on retirement in(a) the most recent year, (b) 2010 and (c) 2020 which is (i) less than 25 per cent. of average earnings, (ii) less than 50 per cent. of average earnings, (iii) less than 75 per cent. of average earnings, (iv) equal to average earnings, (v) up to 25 per cent. more than average earnings, (vi) up to 50 per cent. more than average earnings and (vii) up to 75 per cent. more than average earnings. [31236]
§ Mr. ArbuthnotThe latest available information is for 1992 and is shown in the table. Forecasts of pensioners incomes at retirement for 2010 and 2020 are not available.
80W
Gross income of recently retired pensioner units as a proportion of average earnings Proportion of average earnings Percentage (i) Less than 25 per cent. 5 (ii) Less than 50 per cent. 43 (iii) Less than 75 per cent. 70 (iv) 100 per cent. (average earnings) n/a (v) Up to 125 per cent. 89 (vi) Up to 150 per cent. 93 (vii) Up to 175 per cent. 95 n/a = not available.
source:
Family Expenditure Survey 1992.
Employment Gazette, February 1995.
Notes:
1. Average earnings are based on full time employees on adult rate in all industries and services for 1992.
2. Recently retired pensioner units are defined as single pensioner units and married couples where the individual or head of the household is less than five years over state pension age.
3. The proportion receiving precisely the same level of income as average earnings is not available.
§ Mr. DenhamTo ask the Secretary of State for Social Security if he will estimate the average pensioner income at retirement in(a) the most recent year, (b) 2010 and (c) 2020, expressed as a percentage of average earnings. [31237]
§ Mr. ArbuthnotThe latest available information is for 1992. These estimates show that recently retired pensioner units received an average gross income equivalent to 74 per cent. of average earnings. Forecasts of pensioners' incomes at retirement for 2010 and 2020 are not available.
Source:
Family Expenditure Survey 1992
Employment Gazette, February 1995.
Notes:
1. Average earnings are based on full time employees on adult rate in all industries and services for 1992.
2. Recently retired pensioner units are defined as single pensioner units and married couples where the individual or head of the household is less than five years over state pension age.