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Sunday, May 04, 2008

UK research about pensions

The figures published by the Office of National Statistics about UK pension trends make sobering reading. About two thirds of pensioner households received private pension incomes in 2005/06, but 40% of pensioner couples, 55% of single men and 61% of single women pensioners have an annual private pension income of less than £1,000.

The figures show that the average annual private pension income for pensioner couples in 2005/06 was £2,115 for pensioner couples while for single men it was £1,553 and for single women £1,238.

To be honest we have always known that income distribution of people of pensionable age is just as fragmented into the ‘haves’ and the ‘have-nots’ as any age group, more so maybe. This is why it is essential to be rigorous with the way you segment the market.

Marketing magazine had a great article about this subject. The fact that I am quoted hasn't influenced on my judgement. Well maybe a tad. Dick Stroud

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