You are here: Home - Uncategorized -

State pension rises but ‘it’s not enough’ for some

Written by:

The basic State pension has risen by just over £3 a week to £87.30, an increase in line with inflation, although some pensioners have claimed it is not enough.

The Government has promised to link the State pension with earnings in the next Parliament, following pension advice that this is a fairer system.

Pension credit guarantees are also going up – £5 a week for a single person and £7.65 for a couple, meaning that Britain’s poorest single pensioners will see their income go up to £119.05 a week, while married couples get £181.70.

But charity Age Concern has called for more efforts to make sure that older people are aware of exactly what benefits they are entitled to claim and that they have access to good pension advice.

Age Concern’s director general, Gordon Lishman, said: “Rocketing household bills over the past few years have put a major strain on many pensioners’ finances, yet up to £4.2bn in money benefits is left unclaimed by older people each year.”

He continued: “It is really worrying that some of the poorest and most excluded older people are missing out on money that is rightfully theirs because they don’t know they are entitled to it, are worried about the system’s complexity or are just embarrassed about claiming. They need support and pension advice to help them.”



Related Posts


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
EDITOR’S BLOG: Rate expectations

The Monetary Policy Committee (MPC) at the Bank of England has left interest rates on hold again, much to the relief...