These four sets of indicators look at the economic situation of older people in recent years. The first indicator examines the income of older people, comparing them with the population as a whole. It also shows the income sources of older people, whether the income comes from publicly provided benefits, private occupational transfers, work, or private personal pensions and other savings.
The second indicator looks at relative income poverty of older people. It shows the proportion of older people living on incomes of less than half the national median income and their average income gap to the poverty line. It also compares the poverty rates of older people with poverty rates of the population as a whole and reports on changes over time.
The third indicator looks at income inequality among older people. It shows Gini and percentile ratios for people aged over 65 and also compares them to the total population and across time.
The final indicator presents the “Average worker earnings” that underpin all pension modelling. These data are used widely in the report and many values for parameters and all modelling results for pension entitlements are reported as percentages of national average worker earnings.