§ Mr. JenkinsTo ask the Secretary of State for Work and Pensions what forecasts his Department has made of average pensioner income levels over the next five years. [119234]
§ Malcolm WicksThe Department for Work and Pensions does not make forecasts of future pensioner incomes. However to project future expenditure on Pension Credit it was assumed that pensioner income brought to account would increase in line with earnings.
The Pensioner Income Series 2000–01 shows that the average net income before housing costs of pensioner couples in 2000–01 was 301 and the average income of single pensioners was £160 per week (amounts shown in 2000–01 price terms).
The average net income of pensioners grew by around 23 per cent. in real terms between 1994–05 and 2001–02.