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| 'Shocking' disparity in pension income revealed by latest HMRC data | 'Shocking' disparity in pension income revealed by latest HMRC data |
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| The average pensioner living within London’s Square Mile enjoys an income that is three times as big as their counterpart in Stoke-on-Trent, according to a new analysis of government data that reveals “shocking” differences across the UK. | The average pensioner living within London’s Square Mile enjoys an income that is three times as big as their counterpart in Stoke-on-Trent, according to a new analysis of government data that reveals “shocking” differences across the UK. |
| Recently released HM Revenue & Customs data showed there were about 1,000 older people living within the City of London, which includes the Barbican estate, who receive a total pension income averaging £37,900 a year. | Recently released HM Revenue & Customs data showed there were about 1,000 older people living within the City of London, which includes the Barbican estate, who receive a total pension income averaging £37,900 a year. |
| That means the City of London tops the UK table for pension income, yet just eight miles away lies the area with the UK’s second-lowest pension income. In the London borough of Barking and Dagenham, the mean average pension income that older people had to manage on was £12,800. | That means the City of London tops the UK table for pension income, yet just eight miles away lies the area with the UK’s second-lowest pension income. In the London borough of Barking and Dagenham, the mean average pension income that older people had to manage on was £12,800. |
| The only part of the country with a lower figure was Stoke-on-Trent, where the mean average was just £12,300. | The only part of the country with a lower figure was Stoke-on-Trent, where the mean average was just £12,300. |
| The insurer Royal London said the figures “highlight shocking disparities in pension incomes even within the same region”. In some cases, “very prosperous pensioners” are living only a few miles down the road from those who are struggling on much more modest incomes, it says. | The insurer Royal London said the figures “highlight shocking disparities in pension incomes even within the same region”. In some cases, “very prosperous pensioners” are living only a few miles down the road from those who are struggling on much more modest incomes, it says. |
| “When it comes to pension incomes, there is not a simple north-south divide,” says Helen Morrissey, personal finance specialist at Royal London. “While all of the top 10 local authorities are in London and the south-east, three of the lowest-income authorities are also in London and the south-east.” | “When it comes to pension incomes, there is not a simple north-south divide,” says Helen Morrissey, personal finance specialist at Royal London. “While all of the top 10 local authorities are in London and the south-east, three of the lowest-income authorities are also in London and the south-east.” |
| The second, third and seventh spots in the table of the highest-income areas were also taken by London boroughs: Westminster (£29,500), Kensington and Chelsea (£26,700) and Camden (£24,000). | The second, third and seventh spots in the table of the highest-income areas were also taken by London boroughs: Westminster (£29,500), Kensington and Chelsea (£26,700) and Camden (£24,000). |
| The local authority area outside the capital with the highest average pension income was South Bucks, in the county of Buckinghamshire. | The local authority area outside the capital with the highest average pension income was South Bucks, in the county of Buckinghamshire. |
| Meanwhile, the two other areas in the bottom 10 of incomes that are in southern England are Southampton, where the figure was £13,100, and Slough, where it was £13,500. | Meanwhile, the two other areas in the bottom 10 of incomes that are in southern England are Southampton, where the figure was £13,100, and Slough, where it was £13,500. |
| In Scotland, mean pension incomes range from £20,000 in Stirling to £13,900 in North Lanarkshire. In Wales they range from £18,700 in the Vale of Glamorgan to £13,900 in Caerphilly. | In Scotland, mean pension incomes range from £20,000 in Stirling to £13,900 in North Lanarkshire. In Wales they range from £18,700 in the Vale of Glamorgan to £13,900 in Caerphilly. |
| The figures form part of the most recent personal income statistics, covering the period 2015-16, published by HMRC on 28 March this year. | The figures form part of the most recent personal income statistics, covering the period 2015-16, published by HMRC on 28 March this year. |
| • This article was amended on 3 April 2018 to replace the words “three times bigger” with “three times as big” . | |
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