by: Dick Stroud
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.