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Davy51

Pensions for the future.

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I heard only part of the article on the news yesterday ,but it seems Dave wants everyone to be on about £ 144/week plus inflation by 2017 as the new old age pension. Does anyone know if that will be for all oap's or will they find a way of excluding people retired before 2017 ?

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It is only for those who retire in 2017 so  there is likely to be a considerable discrepancy between the incomes of those who retire before and after the reforms.

 

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Looks like I'll be taking a big drop then.

Not sure how it affects you alg.

 

 

From 2013-14, the availability of the "age-related" income tax personal allowances will be restricted. The allowance of £10,500 for 2012-13, available to people aged 65 to 74 will be restricted to people born after 5 April 1938 but before 6 April 1948. The allowance of £10,660 for 2012-13, available to people aged 75 and over will be restricted to people born before 6 April 1938.

From 2013-14, the amounts of these allowances will not be increased.

From 2013-14, people born after 5 April 1948 will be entitled to a personal allowance of £9,205 for 2013-14.

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Think it's for those coming up for retirement, and it's 35yr period to qualify. Current pensioners have escaped the net; unless they come for the fuel allowance and the TV licence!  But I think they realise that OAPs tend to vote.

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