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Centre for Policy on Ageing | |
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A mid-life less ordinary?
— Characteristics and incomes of low to middle income households aged 50 to State Pension age | | Author(s) | David Finch, Helena Rose |
| Corporate Author | Centre for Ageing Better; Resolution Foundation |
| Publisher | Centre for Ageing Better, London, May 2017 |
| Pages | 35 pp |
| Source | https://16881-presscdn-0-15-pagely.netdna-ssl.com/wp-content/uploads/2017/05/A-mid-life-less-ordinary.pdf |
| Keywords | Poor elderly ; Middle aged ; Income [older people] ; Cost of living ; Savings ; Preparation [retirement] ; Employment of older people ; Statistics [data]. |
| Annotation | Low to middle income households (LMIs) are defined as those in the bottom half of the income distribution. Their incomes are above the bottom 10%, and they receive less than one fifth of their income from means-tested benefits - in total, around 6 million working-age households and 10 million adults. This study's focus is older LMIs, in which the head of household is aged 50 to State Pension age (SPA), comprising 1.8 million households, almost a third of all LMIs. The authors use analyses by the Resolution Foundation of the Office for National Statistics' (ONS) Family Resources Survey (FRS) to examine: older LMIs and the labour market; composition of household income and long term trends; and spending and saving. It is concluded that older LMIs remain at risk of continued financial strain as they approach retirement. Their living standards are still no higher than in 2007-08: they struggle to maintain current living standards, or to save enough to support their future living standards in retirement. Annex A mentions use of a related ONS series, Households Below Average Income (which seems not to be referred to elsewhere in the text). (RH). |
| Accession Number | CPA-170516001 B |
| Classmark | F:W6: SE: JF: J3C: JDD: GA: GC: 6C |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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