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....He said failing to act “would be irresponsible and place an extremely unfair burden on younger generations”. However, Labour and charities were quick to condemn the plans, with the shadow work and pensions secretary, Debbie Abrahams, describing them as “anything but fair”, and arguing that many pensioners faced a “toxic cocktail” of ill-health long before they reached 68. ... [Read full article on Guardian ]
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....The Resolution Foundation said the disappointing recent performance of the economy meant that the incomes of young families – those under 35 – were no higher than they were 15 years ago. The incomes of pensioners – a group that overwhelmingly voted Conservative last month – have grown by 30% in real terms over the same period. ... [Read full article on Guardian ]
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.... "As life expectancy continues to rise and the number of people in receipt of State Pension increases, we need to ensure that we have a fair and sustainable system that is reflective of modern life and protected for future generations. "Combined with our pension reforms that are helping more people than ever save into a private pension and reducing pensioner poverty to a near record low, these changes will give people the certainty they need to plan ahead for retirement. ... [Read full article on Daily Express ]
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....co. uk: "I'm sure pensioners would prefer to retire earlier rather than those who are retired to keep the triple lock - this has never been explained to them. ... [Read full article on Daily Express ]
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....However all options for saving money remain on the table for Labour, including means-testing. This could see wealthy pensioners, and those that have built up some retirement funds of their own by saving diligently throughout their working lives, lose the right to a state pension at all. ... [Read full article on Daily Express ]
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Latest Finance News related to Pensioner

Jeremy Corbyn could rip away YOUR state pension: Labour set to 'means-test' key benefit image
....However all options for saving money remain on the table for Labour, including means-testing. This could see wealthy pensioners, and those that have built up some retirement funds of their own by saving diligently throughout their working lives, lose the right to a state pension at all. ...
State pension age rises: Will changes affect you? Everything you need to know image
Source : Daily Express [Read Article] Wednesday 19th of July 2017 02:42:00 PM
....Spending on the state pension would increase by one per cent of GDP - or around £20billion - every year by 2036/37 without the proposed changes, found a review by John Cridland. Mr Gauke said: "Combined with our pension reforms that are helping more people than ever save into a private pension and reducing pensioner poverty to a near record low, these changes will give people the certainty they need to plan ahead for retirement. ...
Forced to work until you are 68! State pension age rise brought forward SEVEN years image
.... "As life expectancy continues to rise and the number of people in receipt of State Pension increases, we need to ensure that we have a fair and sustainable system that is reflective of modern life and protected for future generations. "Combined with our pension reforms that are helping more people than ever save into a private pension and reducing pensioner poverty to a near record low, these changes will give people the certainty they need to plan ahead for retirement. ...
State pension age to increase seven years earlier than planned image
Source : Guardian [Read Article] Wednesday 19th of July 2017 01:44:22 PM
....He said failing to act “would be irresponsible and place an extremely unfair burden on younger generations”. However, Labour and charities were quick to condemn the plans, with the shadow work and pensions secretary, Debbie Abrahams, describing them as “anything but fair”, and arguing that many pensioners faced a “toxic cocktail” of ill-health long before they reached 68. ...
Pensioner left shocked after price of monthly phone contract nearly doubled image
Source : Daily Express [Read Article] Monday 17th of July 2017 11:18:00 AM
. The shock change really worried the pensioner but she was left hanging on in vain for the refund she says that she was promised by Carefree Communications. ...
Top 1% of households in UK fully recovered from financial crisis image
Source : Guardian [Read Article] Friday 14th of July 2017 11:01:36 PM
....The Resolution Foundation said the disappointing recent performance of the economy meant that the incomes of young families – those under 35 – were no higher than they were 15 years ago. The incomes of pensioners – a group that overwhelmingly voted Conservative last month – have grown by 30% in real terms over the same period. ...
Retirement age MUST rise or young families pay the price, pension committee head warns image
....co. uk: "I'm sure pensioners would prefer to retire earlier rather than those who are retired to keep the triple lock - this has never been explained to them. ...
Pearson picks up $1bn from Penguin – but no treat for investors | Nils Pratley image
.... But, if humanly possible, Cochrane should try to go faster. The deficit in the pension fund was £587m at the last count and those pensioners deserve to hear even an outline of a recovery plan as soon as possible. ...
Casual work is still the root cause of destitution | Letters image
Source : Guardian [Read Article] Monday 10th of July 2017 05:43:31 PM
.... Pensioners have done quite well in recent years, but very much so in comparison with the rest of the population on benefits. When thinking of the next election, we should be very careful about entrenching the gap between pensioners and the poorest working-age families. ...
New energy price cap considered image
Source : BBC [Read Article] Monday 3rd of July 2017 01:04:50 PM
....Now the regulator has said it will hold a summit in July with consumer groups on how it could extend the pre-payment meter cap to other households. Citizens Advice has already suggested that two million extra households which receive the Warm Homes Discount should get the same protection, including some pensioners and families with young children. ...
Forget austerity, here’s who is to blame for your empty pockets | Patrick Collinson image
.... Meanwhile, the average gas bill has gone up 73%, electricity 72%, and water 41%. These are extraordinarily large real rises, and all the grimmer for families and pensioners on very tight budgets. ...
Is standing up the new sitting down? | Stefan Stern image
Source : Guardian [Read Article] Wednesday 28th of June 2017 11:06:27 AM
.... Extended periods in a sedentary position can slow down your metabolism, which is bad news for your blood pressure, blood sugar levels and cardiovascular health. A new piece of research suggests that some people at work are spending over seven hours a day sitting down, which is more than many pensioners manage. ...
Green's 'main purpose' in BHS sale was to avoid pension liability, says watchdog image
....However, Frank Field MP, who was head of the Commons work and pensions select committee until the recent election and led an investigation into the BHS debacle, said the report did not provide sufficient information for the public to judge if the regulator had got a good deal. “This report confirms that Sir Philip Green stripped BHS bare and then left it for dead, with contemptuous disregard for the pensioners. ...
Extra £1bn for Northern Ireland will barely dent public finances image
Source : Guardian [Read Article] Tuesday 27th of June 2017 05:04:26 PM
....But the demand by the Democratic Unionist party that Theresa May rescue the triple lock on pensions and the winter fuel allowance from Philip Hammond’s chopping board gives the chancellor a bigger headache. At the moment, qualifying pensioner households automatically receive a single winter fuel payment, ranging from £100 to £300. ...
State pension BOMBSHELL: Payments 'to be MEANS-TESTED to stop crisis' image
Source : Daily Express [Read Article] Tuesday 27th of June 2017 11:34:00 AM
. The report by the University of Kent suggests state pension payments should be limited for pensioners paying higher-rate tax from as early as 2019, as a way of cutting the ballooning cost of pension benefits. ...
DUP Deal: Pension Triple lock and Winter Fuel Allowance SAVED image
Source : Daily Express [Read Article] Monday 26th of June 2017 12:23:00 PM
....5 per cent, earnings or inflation each year. At the same time, wealthy and middle class pensioners are to keep up to £300 of annual help from the Government's Winter Fuel Allowance to help pay energy bills. ...
Triple lock on pensions will go eventually, says pensions secretary image
Source : Guardian [Read Article] Thursday 22nd of June 2017 06:15:54 PM
.... “If you look at what the triple lock does, it has a ratchet effect, because pensions go up by the higher of inflation or earnings, and in some years it will be one, in some years it will be the other,” he told journalists in Westminster. “But over a period of time, it will mean that a greater and greater share of GDP goes to paying the state pension, even without any increases in pensioner numbers, because that’s just the way it works. ...
REVEALED: 5 simple tricks to increase your pension and BEAT threatened cuts after election image
....5. Inflation proof your savingsSoaring inflation, which hit a four-year high last month, is a problem for anyone on fixed incomes - typically pensioners. ...
Theresa May is warned: don't break election vow on energy price cap image
Source : Guardian [Read Article] Wednesday 14th of June 2017 05:33:11 PM
....Consumer charities said the government should extend the price cap for the 4m households on prepayment meters to a further 2. 6m who are eligible for the warm home discount, which is mostly poorer families and pensioners. ...
Shop around to tackle inflation as rate at four-time high image
Source : Daily Express [Read Article] Wednesday 14th of June 2017 08:20:00 AM
....3 per cent in March, with more expected as the pound weakens further after the election and pushes up the price of imported goods. Andrew Tully, pensions technical director at Retirement Advantage, says pensioners on fixed incomes are particularly hard hit by rising prices: "If inflation averaged 2 per cent over 20 years the typical retired household would somehow need to find a further £187 a week simply to maintain their standard of living. ...
Pensions triple lock: What is the triple lock and will Theresa May get rid of it? image
....5 per cent promise would be dropped. The manifesto said: “By introducing the Pensions triple lock and the new state pension, we have lifted the incomes of millions of older people, reducing pensioner poverty to historically low levels. ...
One love, one aim … finding the best way to donate to victims of the terror attacks image
....While 61% of people in the UK donated money - averaging £40 - to a charity in 2016, just 17% said they had volunteered. Men are less likely to give, but donate higher amounts when they do, while pensioners are the most likely to donate regularly, with a third of those over 65 saying they give every month. ...
While Corbyn inspired the young, May was terrifying the old image
Source : Guardian [Read Article] Sunday 11th of June 2017 06:00:47 AM
.... Wilson says it was the spark that ignited the Labour campaign. Corbyn’s answer was to give pensioners everything they wanted, too. ...
Election 2017: What now for your finances? image
Source : BBC [Read Article] Friday 9th of June 2017 09:06:04 AM
....There is also a cap on local housing allowance, limits to certain elements of tax credits, and a 1% pay rise cap for public sector workers until 2020 - all of which have proved unpopular among a large swathe of the electorate. The future for pensioners - one of the major battlegrounds during the campaign - ironically may end up a little more settled. ...
Election 2017: Hung parliament WORST possible outcome for pensions, say experts image
....Labour and Conservative policies over the state pension triple lock and the state pension age differ hugely in the election manifestos. Tom Selby, senior analyst at AJ Bell, said: "A hung parliament is the worst possible outcome for pensioners and people saving for their retirement. ...
How will the General Election affect your money? Pensions, savings and tax compared  image
.... The party has promised to raise the threshold to £12,500 by 2020, from £11,500 today, and increasing the higher rate tax threshold to £50,000 at the same time. This helps workers keep more of their earnings, and also helps low income earners, including pensioners. ...
Britain’s economic model is broken: this is our first post-crash election | Aditya Chakrabortty image
.... This election is the first in which both party leaders drop the happy-clappy, catch up with just how bad things have got – and, at last, grope around for fixes. The point at which the false beliefs of Westminster bumped into the solid reality of Britain will be marked up as June 2016, when the de-industrialised and disenfranchised communities of south Wales and the north-east delivered Brexit for the coffee-morning pensioners and bug-eyed libertarians of the south. ...
Hoover pension deal agreed affecting 7,500 members image
Source : BBC [Read Article] Friday 2nd of June 2017 11:50:35 AM
.... Those still under retirement age could receive an immediate 10% cut in their pension pot. The pension scheme has 7,500 members, made up of 5,319 pensioners and 2,184 who have deferred their pensions. ...
Older age image
Source : BBC [Read Article] Thursday 1st of June 2017 02:31:40 AM
.... The DWP says that a lack of awareness of these entitlements and the perceived stigma of claiming benefits are thought to be among the reasons people failed to make a claim. This has been echoed by charity Age UK, which points out the total of unclaimed benefits among pensioners rises to £3. ...
UK councils under pressure over £1bn of tobacco investments image
Source : Guardian [Read Article] Wednesday 31st of May 2017 05:40:08 PM
....The share register of British American Tobacco (BAT), owner of Benson & Hedges and Lucky Strike, includes 28 local government schemes, which together own a combined £700m stake in the company. The council with the largest investment in BAT is Hampshire county council, with about £81m of pensioners’ money invested in the firm. ...
This election ignores the most pressing issue: our economic outlook is disastrous | Laura Gardiner image
....But, as with the deficit, there are big differences between each party’s approach to intergenerational equity. The Conservatives want to reduce pensioner benefits slightly and harness older people’s estates, rather than working people’s taxes, to fund their social care plans. ...
Winter Fuel Allowance: Tory means-testing to give 'trivial' savings, blasts IFS image
....But critics have already said setting up a system to means-test it would be costly and could cancel out any potential savings. There are also concerns that pensioners in need of the payment could fail to claim it. ...
RBS shareholders refuse to settle in effort to force Goodwin to take stand image
....“For many people, it’s never been about money, it’s been about principle and justice, and about seeing senior board members of the bank brought to trial,” he said. “There are a lot of pensioners [among the claimants], many of whom are ex-RBS employees. ...
Talks to avert RBS court case to continue into June image
Source : Guardian [Read Article] Wednesday 24th of May 2017 06:35:03 AM
....Nash had told the court on Tuesday the majority of the shareholders were minded to settle but by the end of that day there was no announcement amid a disagreement among some of the private investors who wanted to reject the offer. Some 15% of the group of investors who have yet to agree a settlement have died, 35% are pensioners, and 20% live abroad, according to court documents reported by Bloomberg. ...
The financial benefits of getting married in retirement image
Source : Daily Express [Read Article] Tuesday 23rd of May 2017 07:53:00 PM
....This strengthens the case for getting married in later life as couples who have tied the knot do better out of the tax and benefits system. Helen Morrissey, personal finance specialist at Royal London, said the number of pensioners living together has tripled to 300,000 since 2002. ...
Brexit and the coming food crisis: ‘If you can’t feed a country, you haven’t got a country’ image
.... The non-UK citizens here are mostly of working age and economically active. The 900,000 UK citizens in Europe are mostly pensioners living out their retirement on the sun belt in increasingly poor health. ...
Winter fuel allowance: What the Tory Manifesto pledge REALLY means for you image
Source : Daily Express [Read Article] Friday 19th of May 2017 02:29:00 PM
....Pensioners who receive help to pay energy bills, will be hit to pay for other social measures in the manifesto. The level at which pensioners could lose the payment under Theresa May has not been confirmed. ...
Winter fuel allowance: Will I still get my winter fuel payment under a Tory government?  image
....Critics said means-testing the payment risks additional expensive bureaucracy. And there are worries that pensioners who will still be entitled to the Winter Fuel Allowance will not claim it, leaving them considerably worse off. ...
Election 2017: Conservative pension and triple-lock policy explained image
Source : Daily Express [Read Article] Thursday 18th of May 2017 02:47:00 PM
.... Tom McPhail, head of policy at Hargreaves Lansdown, said: "This is largely what we expected. "The Triple Lock has largely done its job in improving pensioner incomes in recent years and protecting the retired population from the effects of the post 2008 recession. ...
Election 2017: State pension triple lock battle lines drawn image
Source : BBC [Read Article] Thursday 18th of May 2017 02:32:16 PM
....Darren Redmayne, chief executive of Lincoln Pensions, said it was a brave decision to water down the policy alongside changes to social care contributions and winter fuel payment cuts. "These reforms will all have significant impacts on middle-class pensioners that are traditional Conservative voters," he said. ...
May's manifesto is birth of third way Conservatism image
Source : Guardian [Read Article] Thursday 18th of May 2017 01:15:48 PM
.... Of those, the only one to make the cut this time is the promise not to raise VAT. Similarly, the triple lock on pensions has become a double lock and there will be means testing – another hallmark of Brown’s approach – of the winter fuel allowance for pensioners. ...
CRUSADER: Energy firm sees light over bad bill image
Source : Daily Express [Read Article] Wednesday 17th of May 2017 02:15:00 PM
. Battling it out in court was beyond the means of pensioner Barry Parsons, so he was in last chance saloon when he came to Crusader. ...
Tata Steel offers £550m to resolve long-running pensions row image
Source : Guardian [Read Article] Tuesday 16th of May 2017 05:18:09 PM
....The funding proposal has been announced after intensive talks between Tata, the Pensions Regulator and the Pensions Protection Fund, a government-backed pensions lifeboat that will take over the scheme. Workers paid out through the PPF would take a 10% cut in their benefits, although existing pensioners are not affected. ...
Tata Steel offers to pump £550m into closed pension fund image
Source : BBC [Read Article] Tuesday 16th of May 2017 04:01:04 PM
....However, it is still not clear if the British Steel Pension Scheme (BSPS) will continue as a free-standing entity or eventually fall into the hands of the PPF. That is one of the issues that has still to be resolved, along with the size and shape of a new, but less generous, pension scheme that Tata has offered to set up for its 130,000 pension scheme members - pensioners and current employees. ...
Hidden loot: You wont believe the number of Britons that hide CASH under their bed image
. A poll of 2,000 Britons found that 10 per cent of us keep cash under our beds for emergencies, although it wasn't cash-savvy pensioners hiding loot under the mattress, it was the younger generation. ...
General election 2017: Workers' rights protections promised by Tories image
....Answering questions from the public later in an ITV Facebook Live, she acknowledged it would be "difficult" for many people to take a year off work to care for a loved one if they were unpaid but said this and other measures amounted to the biggest single extension of workplace rights ever offered by the Conservatives. However, when pressed on whether she could guarantee free bus passes for pensioners and disabled people in the future, she said people would have to wait until the party's manifesto later this week to find out. ...
Theresa May is creating an epidemic of poverty. Don’t give her a free hand | Gordon Brown image
....1 million this year, climbing fast to over 15 million by the end of the coming parliament. In the early 90s, pensioner poverty affected one in three older Britons. ...
Theresa May will cause more poverty than Thatcher, Gordon Brown warns image
....”. Brown said poverty was set to rise even among pensioners, a group that is protected by the triple lock, a guarantee that the state pension will rise by inflation, average earnings or 2. ...
General election 2017: Lib Dems pledge winter fuel cuts to protect pensions image
....". Under the proposals, an estimated 600,000 pensioners with annual incomes above about £45,000 - 5% of those under 80 and 2% of over-80s - would lose the winter fuel payment, saving the Treasury around £105m. ...
State pension: Axing triple-lock has 'minimal savings and would hit poorest hardest' image
....However, analysis has showed that the cost of increases to Government are minimal, following the reform of state pensions last year. The triple-lock has given pensioners only an extra £2 a week, but it would be low income recipients who would suffer the most if it was removed, according to pension consultancy Hymans Robertson. ...
UK needs £15bn in cuts or tax rises to clear deficit by 2022, says IFS image
.... But despite this, overall public spending remains slightly above its pre-crisis share of the economy. “This is due to persistently poor economic growth and an increase in the share of national income devoted to health, pensioner benefits and overseas aid. ...
'Brazen' conmen who targeted park homes jailed image
Source : BBC [Read Article] Sunday 30th of April 2017 11:00:44 PM
.... . Barrie - a pensioner who lives on Teesside - was told by Guardian Park Homes that his property could collapse because its metal supports were rusting. ...
Poorest face ‘double whammy’ if Tories ditch triple lock on pensions image
. Plans to ditch the triple lock on the basic state pension would represent a “double whammy” for the poorest pensioners, many of whom have already lost out under this month’s new flat-rate pension, according to a leading pension expert. ...
Triple-lock: Call for pensions policy to be revamped image
Source : BBC [Read Article] Sunday 30th of April 2017 02:11:29 AM
....Labour pledges to keep the triple-lock. In his report for Royal London, Mr Webb proposed that the government retained the triple-lock for pensioners who retired before 6 April 2016. ...
Pensioners will carry on hoarding cash if state won’t step in image
Source : Guardian [Read Article] Saturday 29th of April 2017 04:00:03 PM
....This trend lies behind the Tory promise to raise the inheritance tax threshold for couples to £1m by 2020. It can also be seen when wealthy pensioners argue that the government should maintain the state pension as a universal benefit and even continue paying the winter fuel allowance. ...
UK should axe state pension for rich people, says OECD image
Source : Guardian [Read Article] Thursday 27th of April 2017 07:15:15 AM
....Under the current system, anyone who has paid national insurance for 30 years is eligible for the state pension, regardless of wealth. In comments reported by the Financial Times, Mark Pearson, deputy director of employment, labour and social affairs with the OECD, said that like other countries, the UK faced the rising costs of an ageing population, with more pensioners and fewer people of working age. ...
Theresa May weighing up cheaper 'double lock' for pensions image
Source : Guardian [Read Article] Wednesday 26th of April 2017 09:00:47 PM
.... She would only say that “pension incomes would continue to increase” under a Conservative government, in response to a direct question on the future of the triple lock from SNP’s Westminster leader, Angus Robertson. Labour would leap on the abandonment of the triple lock as a raid on pensioners’ finances. ...
Pensioners’ election REBELLION: Demands for May to look at pension issue for UK's 5MILLION image
....Theresa May, 60, has been out campaigning in Dudley as she attempts to woo voters across the country after she called a snap election last week. But she is facing a major backlash from as many as FIVE million pensioners if she doesn't "meet us half way" and confront the pensions crisis. ...
General Election 2017: Energy bill cap 'will hit consumers' image
Source : BBC [Read Article] Monday 24th of April 2017 07:29:03 AM
....He added that if the Conservatives did intervene, it would be better if they abolished standard variable tariffs. About 800,000 of the poorest pensioners and 1. ...
What does the snap election mean for your finances? image
Source : Daily Express [Read Article] Sunday 23rd of April 2017 01:10:00 PM
....The housing market could also wobble if buyers delay their purchases until after polling day on June 8. The next few weeks will see politicians making plenty of financial promises in a bid to buy votes, with many aimed squarely at pensioners. ...
BHS crash sets trend for a chain of closures on UK high streets image
Source : Guardian [Read Article] Saturday 22nd of April 2017 03:00:17 PM
....A year on, the high street is still reeling from the body blow. More than two-thirds of the retailer’s 164 stores are still lying empty and its pensioners have been left worse off, even after former owner Sir Philip Green agreed to pump up to £363m into supporting the pension scheme. ...
Philip Hammond signals ditching of Tory 'no tax rise' pledge image
Source : Guardian [Read Article] Friday 21st of April 2017 12:58:04 PM
....7% of national income to international aid. But the prime minister did not commit her party to the so-called triple lock for pensioners, which ensures that the state pension rises by the higher of the inflation rate, average earnings or 2. ...
UK gas and electricity customers face price rise double whammy image
Source : Guardian [Read Article] Thursday 20th of April 2017 05:59:19 AM
....David Atfield from London is facing a 38% hike to his electricity bill. The pensioner, whose annual electricity consumption is about a third of the national average, has been hit by a rise in nPower’s standing charge – the flat daily charge users pay to receive the supply. ...
PENSION CRISIS: Women LAGGING behind in huge pensions gap image
Source : Daily Express [Read Article] Wednesday 19th of April 2017 12:01:00 AM
....”. The importance of getting a pension has been underlined by new Government figures showing that one million single pensioners are scraping by on the state pension alone, the highest figure for 20 years. ...
Bernard Matthews seller 'lined own pockets' by rejecting pension offer image
....The Pension Protection Fund, an industry-backed body that acts as a safety net for the pensions of insolvent companies, is now assessing what money can be recovered from the carcass of the insolvent Bernard Matthews Ltd as part of a process that typically takes years. Frank Field MP, the chairman of the committee, said: “I have confidence that the PPF, working with the scheme trustees, will act in the best interests of the pensioners, but it’s clear that the former owners passed up a better deal for pension scheme members in favour of lining their own pockets. ...
The older expats facing poverty – thanks to Brexit and frozen pensions image
Source : Guardian [Read Article] Wednesday 12th of April 2017 06:00:27 AM
.... She said she would soon have to give up her telephone and computer, and couldn’t remember the last time she bought new clothes. “It’s absolutely scandalous, I can’t believe the British government can be so cruel to pensioners when they have our money: I have paid national insurance all my life,” she said. ...
NS&I launches new market-leading investment bond with rate of 2.2 per cent image
Source : Daily Express [Read Article] Wednesday 12th of April 2017 12:01:00 AM
. But the NS&I bond is only available online which will put it out of the reach of many pensioners who count on the returns of their savings to supplement fixed income pensions. ...
Inflation rates puts squeeze on savers as UK is in the midst of a 'silent savings crisis' image
....”. Cox said the bond will still be popular because it is backed by the Treasury: “Unlike the NS&I pensioner bonds, launched in 2015, this is available to everyone aged 16 and over, with the offer open for a full year. ...
'Scant reward for savers!': New Government NS&I bond blasted by critics image
Source : Daily Express [Read Article] Tuesday 11th of April 2017 03:54:00 PM
....The account is also only available online at nsandi. com, which critics said will freeze out many pensioners without access to the internet. ...
Government launches ‘market-leading’ savings account image
Source : Guardian [Read Article] Tuesday 11th of April 2017 03:25:30 PM
....uk website said many savers will disappointed that state-owned NS&I, which once offered its products via the Post Office network, is now restricting this account to internet users only. “This could cut off access for those savers most in need of improved rates, including elderly pensioners who do not wish to use the internet,” she added. ...

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