|
Response to plans to link between basic state pension and earnings |
|
|
|
Response to plans to link between basic state pension and earnings
Gordon Lishman, Director-General of Age Concern England said:
“Rumours
that the link between Basic State Pension and earnings may be restored
could be good news for future pensioners. However, a delay of at least
six years before this might come into action is bad news for today’s
pensioners and those retiring before 2012.
“In his report, Turner noted that the real value of the Basic State
Pension will have fallen to just £75 in real terms by 2010. This will
be devalued further if the Government does not act sooner than 2012.
“Already 1.8 million* pensioners are living in poverty and two in
five** of those entitled to Pension Credit are still not receiving it.
Making pensions work more effectively is crucial for the pensioners of
today and tomorrow. Increasing the Basic State Pension to at least £114
per week and reducing means-testing for Pension Credit and other
benefits would be a start.
“The Government must seize the once-in-a-generation opportunity to
introduce radical pensions reform to help future generations avoid
poverty in retirement.”
Age Concern May 12th 2006
|
