A retired person is defined as anyone who describes themselves (in the Living Costs and Food Survey) as “retired” or anyone over minimum State Pension age describing themselves as “unoccupied” or “sick or injured but not intending to seek work”.
A retired household is defined as one where the combined income of retired members amounts to at least half the total gross income of the household.
The methodology used in this bulletin has undergone significant testing and benefited from having a range of external experts to ensure it is as robust as possible.
As Experimental Statistics, the content of this bulletin and the methodology behind it will continue to be evaluated to ensure that user needs are met.
The median household income is the income of what would be the middle household, if all households in the UK were sorted in a list from poorest to richest.
Nowcast estimates will not perfectly reflect changes in the distribution of income, particularly when examining smaller sub-groups of the population, so the estimates should be treated as providing an early indication of what the full survey-based data may show when they are available in 2018.An important factor contributing to the growth in average disposable incomes has been rising income from employment.Average earnings grew in real terms in FYE 2017, which, combined with the continued growth in employment rates, meant that this effect was felt strongly in household incomes.The faster growth of the mean measure is primarily due to incomes of high-income households growing at a faster rate than for households in the middle and lower parts of the income distribution between 19.Figure 2 shows the growth of median household incomes for all households as well as retired and non-retired households.