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Standard of living is increasing for state-dependent

State-dependent single pensioners have seen a significant increase in their standard of living in the past 12 years, according to research from Britannic Asset Management.

Using a new “standard of living index”, BAM shows that retired single state-dependent households have inc-reased their standard of living by 47 per cent since 1990 compared with a rise of just 22 per cent in non-state-dependent single households.

State-dependent couples saw an increase of 31 per cent in living standards over the same period while non-statedependent couples saw a rise of 29 per cent. However, while single households saw their standards rise between 2000 and 2001, couples saw a drop.

The index is calculated by dividing BAM&#39s retired income index by its retired retail prices index.

Sales & marketing director Francis Ghiloni says: “Our income monitor indicates just how important it is to ensure you have a growing stream of income in retirement that keeps pace with inflation.

“People face a huge challenge and have to be flexible. Annuity rates, for example, have fallen dramatically over the past 10 years and escalating annuities appear to have fallen the most.”

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