I remember reading that the average retired person in the UK earns more (higher _income_) than the average worker, so that's before you work out the 'wealth' bit.

And 80% of the country's wealth is with the 60+ crowd (this is getting worse, if anyone has stats that include 2015 / 2016 it'd be appreciated). As they've got both greater wealth and income than the young, and this is getting worse, I think it'd be foolish to call the problem a distraction.