Mean gross pensioner incomes increased by an estimated 50 per cent in real terms between 1994/95 and 2010/11. The real increase in average gross pensioner incomes is calculated in the Pensioners' Income Series by deflating the nominal increase by the Retail Price Index excluding Council Tax/rates.
The increase in average gross pensioner incomes may seem surprising, given that during the period the basic state pension has been linked to prices, which have risen more slowly than earnings. The main reason for the increase is that occupational pensions have grown in importance during the period. However, average growth figures conceal considerable variations between the experience of poorer and richer pensioners.
Source: Office for National Statistics
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