| 12.7°C Dublin

Over-50s coping with recession

THE OVER-50s in Ireland are best placed to continue spending, with billions of euro of disposable income.

In a survey of more than 1.2 million people in Ireland in their retirement years, 67pc said the recession has had little impact on their lives or their living standards.

But although those over 65 have a declared income of €6.6bn, only 10pc of marketing spend is aimed at the over 50s.

And the survey found the 50-plus group are happy and relatively affluent and the majority are optimistic and upbeat about their personal future but 71pc said their income had decreased significantly in the last year.

The figures, outlined in an Amárach Consulting survey of 500 were presented to the annual Business of Ageing Conference - Turning Silver into Gold, at the Royal Hospital Kilmainham.

The over-50s group are more likely to spend money on holidays, new cars, eating out and home improvements than any other section of the population, the survey found.