Economics
In the News
Should rich pensioners be taxed more heavily?
16th February 2017
Phillip Inman argues here that there needs to be a serious rethink of provision for old age. However, whether that involves taxation or an end to the free provision of benefits in kind is another matter.
Get up to speed on our intergenerational commission in under 2 minutes: https://t.co/LlUREUrOsx
— Resolution Foundation (@resfoundation) July 19, 2016
Big income inequalities within all generations, with Gen X facing the biggest divide pic.twitter.com/DzxvJHY9uP
— Matt Whittaker (@MattWhittakerPB) February 13, 2017
A little bit of extra detail here to the Resolution Foundation survey regarding the comparative living standards of pensioners; it appears that the headline claim is a little bit more nuanced.
The Resolution Foundation data looks at household income after housing costs and this means that pensioners who have paid off their mortgages are relatively well-to-do.
However, even the Resolution Foundation admits that "before housing costs are paid, the median working-age household still has a higher income than the median pensioner household."
Nevertheless, I'm still of the view that this is an important issue going forward.
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