HC Deb 04 July 1994 vol 246 cc53-4W
28. Mr. Gale

To ask the Secretary of State for Social Security what representations he has received about the percentage of pensioners retiring(a) in 1979 and (b) in the latest year for which figures are available, who had incomes from savings; and what was the real average level of savings on each of these two dates.

Mr. Hague

The percentage of recently retired pensioner units receiving income from savings has grown from 68 per cent. in 1979 to 78 per cent. in 1990–91. Information about the average level of savings is not available, but it is estimated that the average level of income from savings of recently retired pensioner units has risen from £20.40 in 1979 to £49.90 in 1990–91.

Notes:
  1. 1. Source: 1979 and 1990–91 Family Expenditure Surveys.
  2. 2. A pensioner unit is defined as a single person aged at or above state pensionable age (SPA) or a couple where the husband is aged at or above SPA.
  3. 3. A recently retired pensioner unit is one where a single person, or the husband of a couple, is aged up to five years above state pension age.
  4. 4. The savings income figures are at 1991 prices.