Many pensions will not increase by 2.5 per cent

MOST of your older readers will recently have been advised of their State Pension Increase for the forthcoming Tax Year.

The headline figure for the increase is 2.5 per cent, but many people will not receive this level of increase to their overall pension.

This is because the SERPS element of their pension, now called Additional Pension, has been increased by only 1 per cent.

In my case, and no doubt for many others, this amounts to a loss of some £90 per year.

Contributors to SERPS did so in the belief that, as it formed part of the their pension, it would keep pace with inflation - Not So !

This is a pretty shabby way to treat pensioners and gives the Prime Minister’s support for a meritocracy, “where ordinary working class people have more control over their lives” a distinctly hollow ring! Mike Jones