The gap between the income of retired people and wage-earners has narrowed as pension values have grown.

According to figures from the ONS, income among working people has fallen by 1.2pc since the financial crisis, while income among retired people has risen by 13pc.

The data also shows that inequality among pensioners has also widened, with wealthy pensioners becoming wealthier thanks to the often-generous benefits that come with private pensions.

1. Retirees' incomes are up

Last year retired people had average incomes £2,500 higher than in 2007/8, while non-retired people - including those of working age but not in work - earned £300 less.

In the year 2015-16, the average non-retired household income was almost flat, rising by just £55, while pensioner incomes rose by £656.