'Granfluencers' on the rise as pensioners look for alternative income

A growing trend of influencers aged 65 or over are earning "significantly more" per year than the average UK pension income, according to research from PensionBee, which has revealed the highest earning 'Granfluencers'.

The provider found that the top five earning TikTok Granfluencers, with an average age of 82, are estimated to earn a combined £304,000 per year.

The highest earning Granfluencer was found to be TikTok's Grandad Joe, who earns an estimated £134,000 per year, almost eight times the total value of the average annual UK pension income of £17,200.

Instagram’s top Granfluencer, meanwhile, was Helen Ruth Elam, who has over 3.5 million followers and is estimated to earn around £32,000 per year, almost double the value of the average UK pension income.

PensionBee stated that it is "unsurprising" that retirees are considering additional ways of topping up their income, noting that the Pensions and Lifetime Savings Association has estimated that an individual needs just over £20,000 a year for a ‘moderate’ retirement.

However, it emphasised that there are steps savers can take, other than hoping to become a influencer in retirement, such as starting contributions early, which will give savings a longer time to grow.

PensionBee chief marketing officer, Jasper Martens, commented: “While Granfluencers may not earn as much as their Gen Z and Millennial counterparts on social media, it’s clear from their huge follower numbers and annual estimated income that content creation can be a lucrative pastime for the over-65s.

“With the average UK annual pension income standing at only £17,200, becoming a Granfluencer can be a useful creative outlet that allows a few lucky creators to top up their monthly income.

“For those not looking to go viral, regularly contributing to a pension and consolidating any old pension pots into one place can be a simple way to ensure a happy and comfortable retirement.”

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