Figures show pensions gap exists between rich and poor

The number of pensioners in poverty has fallen according to new figures from the Office for National statistics.

However, although incomes have risen there is still a substantial gap between rich and poor pensioners. The top fifth receive on average £45,000 a year, the bottom fifth around £10,000

Tom McPhail is Head of Pensions Research at Hargreaves Lansdown and says the gap is 'substantial'.

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