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By (user no longer on site) OP
over a year ago
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In 2014-15, it said that 19 million people were living on less than the Minimum Income Standard (MIS).
It said the problem was that household costs have been rising, while incomes have stagnated.
The government has already promised to tackle the issue, after Theresa May identified those "just about managing
Although the precise level depends on individual circumstances, a single person renting a flat outside London is said to need to earn at least £17,300 a year to reach the MIS.
For a working couple with two children, living in social housing, each of the individuals need to earn £18,900 a year.
Is £18,000 a year enough to live off? |
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By (user no longer on site)
over a year ago
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"I guess £18,000 - £24,000 is around the average company pension so most pensioners will be doing okay as mortgages etc will all be paid off"
but they have had to spend all of those years paying it off! with thier own hard earned money  |
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By (user no longer on site)
over a year ago
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"I guess £18,000 - £24,000 is around the average company pension so most pensioners will be doing okay as mortgages etc will all be paid off"
Also your dependants are independent. |
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By (user no longer on site)
over a year ago
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I wonder out of this "third" of the population living on inadequate income how many voted for Brexit that is now causing prices across the board to rise further and faster than before.
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By (user no longer on site)
over a year ago
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"I guess £18,000 - £24,000 is around the average company pension so most pensioners will be doing okay as mortgages etc will all be paid off"
I think your a little off the mark with your guess. You would need a pension pot of £750,000 if your in reasonable health at 65. However if your on a final salary scheme - disappearing like the dodo you may fair better. If you have health problems with the possibility of premature death you will get a better pension! There are also regional differences too! But the average pension pot is only £125k which produces an annual pension of £4.5k. Lots of people are in for a shock!
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By *oxesMan
over a year ago
Southend, Essex |
"I guess £18,000 - £24,000 is around the average company pension so most pensioners will be doing okay as mortgages etc will all be paid off"
the Blair era the average wage was about 27,200, the avg for the cantons era was 21,700. |
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