Policy Hub
On 28 April 2009, the Pensions Policy Institute (PPI) published a report (Retirement income and assets: do pensioners have sufficient income to meet their needs?) which sets out research revealing that pensioners get relatively poorer as they get older.
The report identifies the main factors determining pensioners’ fluctuating income requirements and considers whether pensioners are likely to have sufficient income to meet their needs and expectations throughout their retirement.
The research shows that pensioners’ need for retirement income changes during the course of their retirement. When in their 60s many pensioners remain active and may require relatively high levels of retirement income. In their 70s pensioners may become less active but are often still able to live independently. As such income needs are likely to decline.
In their 80s and 90s, the onset of disability, widowhood and the need for long-term care can all contribute to higher costs in later retirement.
For many pensioners, the report observes, income is likely to decline during retirement relative to the incomes of the rest of the population.
Retirement income and assets: do pensioners have sufficient income to meet their needs?