Madeleine in Italy this summer
So here is another thing to consider : in the UK, pensioner income has risen faster during the past 35 years than the general working population. Retired households, on average, had disposable income of £17,700 in 2010-11 or nearly three times the 1977 equivalent of £6,585 in today's prices or 2.7X. Working income has grown £35,000 vs. £16,486 or 2.1X. The pensioner's gain at the expense of
young workers : an FT analysis covering 50 years suggests that living standards for Britains in their 20s overtaken by those of their 60 something grandparents for the first time.
There once was a fuzzy old bear
Who suddenly lost all his hair
And though he was sad
He knew it was bad
To cry and completely despair
--Eitan limerick (from 2009)
