The Office for National Statistics has released figures that show incomes have risen for older householders but fallen for working families since the economic crisis began. The figures add to evidence that older households have suffered least in financial terms from the impact of the financial crisis and austerity. Working households saw typical incomes fall by 6.4% between the 2007-08 and 2011-12 financial years. Retired households' income grew 5.1%. The ONS has taken the median, or middle, figure for incomes, which picks the household that comes halfway along the income scale. It chose this method rather than selecting the average, as that can be distorted by a number of super-wealthy households at the top end.....Read more here