Women, people living alone, people who are widowed, divorced or separated, people in poor health, those with lower educations and people living in deprived neighbourhoods tend to have lower levels of material resources or income in their later years.
Older seniors spend, on average, substantially less of their income than younger pensioners. This is especially true of seniors aged 80 and over. Lower income senior households also spend more of their income than better off ones.
The majority of seniors affected by high levels of income deprivation live in and around the centre of Southampton, with the exception of Weston and Lordshill. Approximately 1700 (4.3%) of Southampton residents aged 60 and over live in areas within the 10% most deprived in England.
The latest edition of the Pensioners' Income series records that in 2006/7, state benefits accounted for 44% of pensioners' income, with 25% from occupational pensions, 17% from earnings, 10% from investment income, and 3% from personal pension schemes.
32% of pensioner units (singles or couples) received at least one income related benefit. 23% were in receipt of disability benefits.
The Department for Work and Pensions tabulation tool can be used to find the number of claimants in Southampton of certain benefits and schemes such as the state pension, pension credit and attendance allowance.
Despite evidence of seniors' lower incomes, material deprivation indicators suggest seniors
are less likely to report deprivation than younger people with the same income. The
overwhelming majority of seniors had low expectations of retirement, or a feeling that they
would have to cut back and lower their expectations. The overwhelming majority also manage
their money very carefully and meticulously monitor what they spend.
Seniors are less likely to claim the benefits they are entitled to that any other group. This can
be because they find the system confusing, are embarrassed about claiming, or don't realise
that they are entitled to the extra money.
