OAPs income is ‘below average’

Editorial Image

Editorial Image

Pensioner couples and single pensioners in Carrick received on average £444 per week in gross income in 2014/15 according to a new survey.

The Pensioners’ Income Series Bulletin, Northern Ireland is produced annually and contains estimates of the levels and trends of pensioners’ incomes across Northern Ireland.

And, according to the report, released by the Department for Communities between 2013/14 and 2014/15 gross income for Carrick OAPs increased in ‘real terms’ by £29.

Similarly, net income ‘Before Housing Costs’ (BHC) increased by seven per cent on average.

On average net income ‘After Housing Costs’ (AHC) increased by eight per cent (£343 to £369) between 2013/14 and 2014/15.

Again, viewed on average, gross income which is defined as the central measure of all income received by the ‘pensioner benefit unit’ has increased by £57 (15 per cent) in real terms over the time period 2003/04 and 2014/15 (£387 to £444).

Over a three year average (2012-15) pensioner couples in Northern Ireland had the second lowest gross income across the four UK countries (£618), £70 lower than the UK average; the lowest gross income was in Wales (£551).

Single pensioners in Northern Ireland over a three year average (2012-15) had the lowest gross income across the four UK countries at £270, £54 lower than the UK average.

The most common source of income for pensioner units is state pension; with 98 per cent of pensioner units claiming this.

Fifty-two per cent of pensioners receive income from private pensions; 46 per cent receive income from occupational pension income while eight per cent have income from a personal pension.