Old statement of graduated pensions

JezR

Has to be remembered that in the early part of that period at least the basic pension was not increased every year for inflation either.

xylophone

Has to be remembered that in the early part of that period at least the basic pension was not increased every year for inflation either.

From link above:

Regular uprating of the BSP was introduced in 1973.

It makes you wonder how those dependent on SP managed to survive through the high inflation years.

JezR

It wasn't that it didn't rise at all just that there was no statutory annual linking to inflation whether of earnings and prices. So it was at the mercy of the largesse of the Chancellor each year which meant it tended to fall behind and be brought back in jumps.

Also in percentage terms many more had to apply for National Assistance etc.

Lincsdebt

Thanks everyone, certainly does seem a pretty ancient pension supplement these days.


My units will be worth around 50p a week! This won't change my life ...

greenglide

My units will be worth around 50p a week! This won't change my life ...

... but will only make any difference if your entitlement under the old system is already over £155.65 (so you will get a "Protected Payment) or if you have accrued less than £155.65 now and you would otherwise not have reached the full £155.65 by SPa (2020?).