Decision time on pensions approaches

Since writing my report for this year’s AGM (attached), new developments have become apparent, some of which could clearly affect the finances and welfare of pensioners.

The Conservatives have joined the Liberal Democrats in stating that if they win the next General Election they will honour the triple lock on the state pension for the period of the following Parliament.  We hope the Labour Party will join them in making a similar undertaking.

The continuing freeze on annual tax thresholds has currently and will increasingly in the future move many pensioners of frugal means into paying income tax.

The government, as you know, has recently implemented two reductions in National Insurance rather than income tax levels.  They clearly wish to exclude pensioners from this financial benefit.  What is their reason for doing so?  Might I suggest you ask their representatives when they visit your home asking for your vote.

Chris O’Neill

Chair, Hampshire Retired Members Section

4 April 2024