Pensioner poverty has risen steadily over the past decade after reaching a low point in 2013/14, with the increase driven almost entirely by single pensioners as single women face the greater risk, according to LCP.

The new report, Being single in retirement – a key issue for the Pensions Commission? revealed the number of divorced single pensioners in England and Wales has trebled since 2002, rising by more than a million people to 1.5 million in 2024.

Meanwhile, the number of never-married single pensioners has also started to increase, reaching 800,000 as more people enter retirement after cohabiting rather than marrying.

LCP said overall pensioner poverty rose from 15.7 per cent in 2012/13 to 18.6 per cent in 2023/24, reversing years of previous progress. Poverty rates among single pensioners are now almost twice those of couples.

The research found that two thirds of single pensioners in poverty are women, and LCP has set out a range of policies for the government’s Pensions Commission – established in July 2025 – to consider.

LCP partner, and report author, Steve Webb, commented: “Some of the discussion of the position of pensioners seems to imply that pensioner poverty is largely solved. But, since 2012/13, pensioner poverty has been rising steadily, predominantly amongst single pensioners.

“Issues such as inadequate pension sharing at the end of a relationship and the continuing gender pension gap mean that women in particular are at higher risk of poverty in old age.”

The report argued there were a range of possible policy reforms to help address these issues, including enhanced tax incentives for pension contributions to lower-earning spouses (typically women), improved pension-sharing arrangements for cohabiting and divorcing couples, and making joint-life annuities the default option.

Webb added: “We also need to look at social changes such as the growth in cohabitation and understand what these means for later life finances.

“It is vitally important that the Pensions Commission looks in depth at these issues when drawing up its blueprint for the future of pensions.”

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