Property News · November 25, 2017

‘Pensioner’ – the missing word in the chancellor’s speech


Philip Hammond didn’t mention them once in the budget, but there is good newsOlder people were notable in their absence from Philip Hammond’s budget speech – literally. Unusually, the word “pensioner” didn’t appear once. That’s in sharp contrast to 2015 when George Osborne uttered it five times. Last year, meanwhile, it managed one mention.However, the budget documents did contain what some might see as positive news for older people. They confirmed that the full basic state pension, for those who reached state pension age before 6 April 2016, will go up by £3.65 a week – from £122.30 to £125.95 – in April 2018. Meanwhile, the new state pension – for men born after 6 April 1951 and women born after 6 April 1953 – will rise by £4.80 a week. That means it goes up from £159.55 to £164.35, assuming a full national insurance contributions record.Both are being increased by the “triple lock,” which means payments rise in line with whichever is the highest of average wages, inflation, or 2.5%. Continue reading…

Source : theguardian.com
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