This paper uses ordered response models of pensioners' subjective evaluations of their financial positions to construct equivalence scales for pensioners. A range of different ordered response models is used. The paper examines the sensitivity of the estimated scale to (a) the econometric model used and (b) the measurement of income. A pensioner couple is found to require on average 1.3 to 1.4 times as much income as a "comparable" single pensioner to experience the same level of financial well-being. This is significantly less than both the McClements equivalence scale value and the ratio of state pension rates.