Take a look at the figures…
According to a new report from the Resolution Foundation, a typical pensioner is now over taking working-age people in income.
Pensioners are also more likely than their predecessors to still be in work, own a home and have access to healthy private pensions.
The think tank said that growth in pensioner incomes has been coupled with weak income growth for working-age people.
Pensioner households are now £20 better off than working-age households, they were £70 worse off back in 2001.
The report states that typical incomes across the pension population have grown by 30 per cent since 2001, the typical income of someone who turned 65 within that year had only risen seven per cent by 2014.
Adam Corlett, Economic Analyst at the Resolution Foundation, said: “The main driver of pensioner income growth has been the arrival of successive new waves of pensioners, who are more likely to work, own their home and have generous private pension wealth than any previous generation.”
“Of course, not all pensioners can draw on these income sources, which is why the state pension will always be the main income for many pensioners.”
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