Strongest income rise among pensioner households
Households where the main income earners were in their late 60’s had the strongest income rise last year. The income rise can be explained by the possibility for pensioners to receive old-age pension in combination with income from work.
Elderly households had the strongest income rise last year. The growth in median income from 2010 to 2011 among households where the main income earner was 65-69 years, was 7 per cent (at constant prices). In general, older households had a more rapid rise in income compared to younger households in 2011.
More pensioners combine work with pension
New regulations for use of flexible old-age pension were introduced in 2011. This allows for a combination of pension and income of work, without reduction in pension. The strong income growth among the youngest pensioner households may be explained by these new regulations. In 2004, 41 per cent of people aged 65-69 years received income from work. In 2011 the percentage had increased to 48 per cent. Among people 70-74 years the percentage had risen from 19 to 25 per cent.
Overall high income rise
Median after tax income was NOK 431 100 for all households in 2011. This was a growth of 3.6 per cent in real terms from the previous year.