Which pensioners don’t spend their income and why?

Abstract

The purpose of this report is to provide new insights into pensioners' living standards by analysing pensioners' expenditure. This report specifically explores: which pensioners spend a low proportion of their income; why this might be; and, whether a decline in spending with age was likely to be a trend for the future (ageing effect), or a feature associated with today's pensioners (cohort effect).
The research method used to address these questions was secondary analysis of existing survey data. The surveys analysed were the Family Expenditure Survey, its successor the Expenditure and Food Survey, the British Household Panel Survey, and the English Longitudinal Study of Ageing.