Pensioners will soon have more money in their pockets than working people.
The median average income for a pensioner is £24,204 a year after housing costs while people of working age have an average income of £25,986 after housing, according to the Resolution Foundation, a think tank.
By 2026 the foundation expects pensioners to have an average income of £24,538 a year, while non-pensioners are expected to have £24,290.
Daniel Pryor from the Adam Smith Institute, another think tank, said: “For the first time in history, pensioner incomes are overtaking those of working-age people, once you factor in housing costs.”
Government tax policies and spending over the past decade have been heavily geared towards older people, leaving younger people comparatively worse off.
In November the
