Tuesday, August 15, 2017

Age inequality is in the eye of the beholder

The ONS has recently issued data about household income in the UK,

The main point in the report states:

In 1977, only around one-fifth (21%) of retired households had an annual disposable income of over £10,000 (after accounting for inflation and household composition) but by financial year ending (FYE) 2016, this had increased to 96% of retired households.

Now let's put that into perspective - the salary of a primary school teacher in the UK is £30,000.

Surely it is to be welcomed that the country now has nearly a 100% of retired people with an income of at least a third of that of the first rung of school teachers?

No, no, no. The Guardian is outraged and reports

The average gross income for a pensioner household soared (don't you just love the choice of the word 'soared') to £29,000 in 2016 from £10,500 in 1977, after the figure was adjusted for inflation, according to the Office for National Statistics. 

What has happened in the UK is that the household income of retired people has increased from one of the lowest in Europe. Something to be celebrated but for some reason it annoys the hell out of many of my fellow citizens.  Dick Stroud

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