The retirement income gap refers to the difference between the retirement income and the income needs of an individual. With less people buying their own homes, there is the risk that those who rent will fall short due to rental costs. In London for example, individuals renting a one-bedroom property would experience an income gap of 15,700 British pounds in retirement. In comparison, if they owned their property, the income gap would be 400 British pounds.
Retirement income gap before and after rent in Great Britain in 2018, by region (in GBP)
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Scottish Widows. (August 23, 2019). Retirement income gap before and after rent in Great Britain in 2018, by region (in GBP) [Graph]. In Statista. Retrieved June 10, 2024, from https://www.statista.com/statistics/1072889/retirement-rent-income-gap-great-britain/
Scottish Widows. "Retirement income gap before and after rent in Great Britain in 2018, by region (in GBP)." Chart. August 23, 2019. Statista. Accessed June 10, 2024. https://www.statista.com/statistics/1072889/retirement-rent-income-gap-great-britain/
Scottish Widows. (2019). Retirement income gap before and after rent in Great Britain in 2018, by region (in GBP). Statista. Statista Inc.. Accessed: June 10, 2024. https://www.statista.com/statistics/1072889/retirement-rent-income-gap-great-britain/
Scottish Widows. "Retirement Income Gap before and after Rent in Great Britain in 2018, by Region (in Gbp)." Statista, Statista Inc., 23 Aug 2019, https://www.statista.com/statistics/1072889/retirement-rent-income-gap-great-britain/
Scottish Widows, Retirement income gap before and after rent in Great Britain in 2018, by region (in GBP) Statista, https://www.statista.com/statistics/1072889/retirement-rent-income-gap-great-britain/ (last visited June 10, 2024)
Retirement income gap before and after rent in Great Britain in 2018, by region (in GBP) [Graph], Scottish Widows, August 23, 2019. [Online]. Available: https://www.statista.com/statistics/1072889/retirement-rent-income-gap-great-britain/